In the long run, if the price level increases, then nominal wages and other input prices:
A. Also rise, so firms will reduce their output level
B. Also rise, so firms will not change their output level
C. Not change, so firms will not change their output level
D. Decrease, so firms will increase their output level
B. Also rise, so firms will not change their output level
Economics
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Suppose job search has decreased over the last several years. This decrease could be a result of
i. a change in unemployment benefits. ii. a positive structural change. iii. a higher inflation rate. A) i only B) ii only C) i and iii D) i and ii E) ii and iii
Economics
In the above figure, what are the equilibrium price and quantity?
A) $40 and 200 units B) $50 and 100 units C) $10 and 200 units D) $30 and 100 units
Economics