In terms of aggregate supply, the short run is a period in which:
A. the price level is constant.
B. employment is constant.
C. real output is constant.
D. nominal wages and other resource prices are unresponsive to price-level changes.
D. nominal wages and other resource prices are unresponsive to price-level changes.
Economics
You might also like to view...
What does "full employment" mean?
a. it is the target rate for govts b. it assumes that there will always be cyclical and frictional unemployment c. it occurs when cyclical unemployment=5% d. all
Economics
With an increase in the real interest rate, consumption and real gross domestic product will most likely change in which of the following ways?
A) Increase/Increase B) Increase/Decrease C) Decrease/Increase D) Decrease/Decrease E) No change/Increase
Economics