Given implicit or explicit resource price agreements, if the actual price level is below the expected price level, the:
a. economy will move rightward along the short-run aggregate supply curve.
b. economy will move leftward along the short-run aggregate supply curve.
c. short-run aggregate supply curve will shift to the left
d. long-run aggregate supply curve will become steeper.
e. short-run aggregate supply curve will become flatter.
b
Economics
You might also like to view...
Which of the following are characteristics of a proprietorship? I. Single owner II. Limited liability
A) I only B) II only C) both I and II D) neither I nor II
Economics
A decrease in liabilities will reduce a firm's accounting profit
Indicate whether the statement is true or false
Economics