The short-run aggregate supply curve:
a. has the same slope as the LRAS
b. shifts only when the LRAS shifts in the same direction.
c. normally slopes upward to the right because the costs of labor and other inputs are relatively fixed in the short run.
d. normally has a slope of zero, meaning the curve is horizontal.
c
Economics
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Recall from Chapter 5: Other things constant, when households lower their time preferences, and demonstrate a willingness to postpone some present consumption for future consumption,
A) their savings increase. B) their savings decrease. C) the budget deficit increases. D) the budget deficit decreases.
Economics
What is a household's choice set or opportunity set?
What will be an ideal response?
Economics