Which of the following is correct if there is a favorable supply shock?
a. the short-run aggregate supply curve and the short-run Phillips curve both shift right.
b. the short-run aggregate supply curve and the short-run Phillips curve both shift left.
c. the short-run aggregate supply curve shifts right and the short-run Phillips curve shifts left.
d. the short-run aggregate supply curve shifts left and the short-run Phillips curve shifts right.
c
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The market demand curve in a perfectly competitive market is downward sloping
Indicate whether the statement is true or false
A decrease in the value of money __________ the quantity of money demanded. On a graph with the value of money on the vertical axis this effect on the value of money on quantity demanded is shown as ____________
Fill in the blank(s) with correct word