For supply-side inflation to occur in the long run
A) the long-run aggregate supply curve has to shift to the left.
B) the aggregate demand curve has to shift to the left.
C) the long-run aggregate supply curve has to shift to the right.
D) the aggregate demand curve has to shift to the right.
A
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ABC news in Australia reported that the average annual wage in 2008 was $13,308. To calculate the real wage rate in Australia, you would need to know
A) Australia's inflation rate between 2007 and 2008. B) Australia's price level in 2008. C) the core inflation rate in Australia in 2008. D) the exchange rate between the U.S. dollar and the Australian dollar.
Higher wages that compensate workers for unpleasant aspects of a job are called compensating differentials
Indicate whether the statement is true or false