Which of the following is not a factor that can shift the short-run aggregate supply curve?
A) changes in the wage rate
B) changes in the price of non-labor inputs such as oil
C) changes in labor productivity
D) a severe drought which extensively damages grain crops
E) none of the above
E
Economics
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"The level of employment in an economy determines its real GDP, other things held constant." Do you agree or disagree? Why? What assumptions are necessary for your conclusion based on the classical model?
What will be an ideal response?
Economics
The nominal interest rate ________
A) makes no allowance for inflation B) is a percentage of the amount borrowed C) is the rate that most banks advertise D) all of the above E) none of the above
Economics