An explanation for why the short-run aggregate supply curve is upward-sloping is because:
a. nominal incomes are fixed.
b. the quantity of real output supplied is inversely related to the aggregate supply curve.
c. an increase in price will increase the supply of money.
d. the capital-output ratio.
a
Economics
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A group price discriminator sells its product in Florida for three times the price it sets in New York. Assuming the firm faces the same constant marginal cost in each market and the price elasticity of demand in New York is -2
0, the demand in Florida A) has an elasticity of -6.0. B) is more price elastic than the demand in New York. C) has an elasticity of -1.2. D) has an elasticity of -0.67.
Economics
How can an economy achieve full employment without igniting inflation?
What will be an ideal response?
Economics