Incorporating the Phillips curve into the aggregate supply curve
a. lengthens the horizontal segment and shortens the vertical
b. lengthens the vertical segment and shortens the horizontal
c. creates an upward-sloping segment after the vertical and before the horizontal segments
d. creates an upward-sloping segment after the horizontal and before the vertical segments
e. creates a downward-sloping segment after the horizontal and before the vertical segments
D
Economics
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Refer to Figure 5-6. What is the deadweight loss resulting from producing at the market equilibrium?
A) B + C B) F C) E + C D) C
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________ flexible wages and prices imply that the short-run aggregate supply curve is ________
A) More; flatter B) Less; steeper C) less; vertical D) More; steeper
Economics