Aggregate supply increases when
a. wage rates or interest rates decrease while the economy's price level remains unchanged
b. resource availability is reduced
c. there are fewer workers
d. there is less capital and the price level remains unchanged
e. there are increased inflationary expectations of labor
A
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A variable measures
A) the degree to which something varies over time. B) something that always has the same value. C) something that can take on different values. D) factors that occur with high degrees of uncertainty.
Bob is the only carpet installer in a small isolated town. The above figure shows the demand curves of two distinct groups of customers-residential and business. If the marginal cost of installing carpet is a constant $1 per sq yard, what price does Bob charge each segment?
What will be an ideal response?