The idea that nominal wages are slow to adjust to changing economic conditions can explain the ________ slope of the short-run aggregate-supply curve.

The range in which a duopoly's output falls is less than or equal to the output level in ________ and more than or equal to the output level in ________

A) monopolistic competition; monopoly B) monopolistic competition; perfect competition C) perfect competition; monopoly D) monopoly; monopolistic competition E) monopoly; perfect competition

Which of the following statements is true?

A) Testing with data is essential to develop a good theory. B) Knowledge of economics complicates decision making. C) Cost-benefit analysis can be applied only to limited economic decisions. D) Economics is more of a theoretical subject with limited applications in the real world.