Keynes argued that because of sticky prices and wages
A) the short-run aggregate supply curve could be horizontal.
B) the short-run aggregate supply curve is probably vertical.
C) the long-run aggregate supply curve slopes downward.
D) the aggregate demand curve is vertical.
A
Economics
You might also like to view...
Using the above figure, which of the following quantities of CDs has the largest deadweight loss?
A) 3 million CDs B) 4 million CDs C) 7 million CDs D) The deadweight losses associated with the three quantities given above are all equal.
Economics
Which of the following statements about an entrepreneur is true?
A) develops the vision for the firm and funds the producing unit B) sells his entrepreneurial services in the output market C) does not face personal risk D) purchases other factors of production in the output market
Economics