Refer to the graphs below. Graph A is constructed on the basic assumption that:

In the graphs below, QP refers to the economy's potential output level.





A. The price level is not flexible

B. Nominal wages are unresponsive to price-level changes

C. Real output is unresponsive to price-level changes

D. Unemployment is unresponsive to price-level changes

B. Nominal wages are unresponsive to price-level changes

Economics

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Which is considered fiat money?

(a) Greenbacks (b) Gold coins (c) Silver dollars (d) Silver certificates

Economics

Shift to the left or right for supply: business taxes decrease or subsidaries increase

What will be an ideal response?

Economics