The aggregate supply curve (short run):
A. graphs as a horizontal line.
B. is steeper above the full-employment output than below it.
C. slopes downward and to the right.
D. presumes that changes in wages and other resource prices match changes in the price
level.
B. is steeper above the full-employment output than below it.
Economics
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During recessions declines in investment account for about
a. 1/6 of the decline in real GDP. b. 1/7 of the decline in real GDP. c. 1/3 of the decline in real GDP. d. 2/3 of the decline in real GDP.
Economics
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. If aggregate income is $1,000 billion, then in this society aggregate saving is ________ billion.
A. $240 B. $300 C. $320 D. $550
Economics