Aggregate supply is upward sloping in the
a. new classical model.
b. classical model.
c. monetarist model.
d. real business cycle models.
e. both a and c.
E
You might also like to view...
Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. In response to this ordinance, Angus agrees to pay Dudley $225 each day to not call the police
Compared to the original scenario where there was no ordinance banning loud music, in this situation the size of the economic pie will A) shrink. B) not change. C) grow. D) More information is needed to determine the size of the economic pie.
Refer to Table 4-5. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket rises from $20 to $38
A) consumer surplus increases from $88 to $142. B) consumer surplus decreases from $62 to $12. C) no one will buy a ticket. D) only three tickets will be sold.