The sticky-wage theory of the short-run aggregate supply curve says that when the price level rises more than expected,
a. production is more profitable and employment rises.
b. production is more profitable and employment falls.
c. production is less profitable and employment rises.
d. production is less profitable and employment falls.
a
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The feature of preferences that "more is better"
a. is a logical consequence of transitivity b. is shared by most people, most of the time. c. implies that 5 apples will always be preferred to 4 oranges d. implies that 5 apples will always be preferred to 5 oranges e. means that, when dining, people always try to eat as much as they possibly can
Which of the following is a characteristic of a sunk cost? a. It cannot be recovered
b. It affects current business decisions. c. It is variable over time. d. It affects marginal costs.