The short-run Phillips curve will tend to shift during any period when:
a. aggregate supply changes
b. real wages or input prices change because of changes in the supplies of labor or other inputs.
c. inflationary expectations change.
d. all of the above
d
Economics
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Using AD & LRAS explains the business cycle.
a. true b. false
Economics
The Jeans Store sells 7 pairs of jeans per day when it charges $100 per pair. It sells 8 pairs of jeans per day at a price of $90 per pair. The marginal revenue of the eighth pair of jeans is
A) $20. B) $90. C) $100. D) $700.
Economics