If workers demand and receive higher real wages (a successful wage push), the cost of production ________ and the short-run aggregate supply curve shifts ________

A) rises; leftward
B) rises; rightward
C) falls; leftward
D) falls; rightward

A

Economics

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In short-run equilibrium in a perfectly competitive market,

a. the price varies along the market supply curve b. each consumer can buy whatever quantity he wishes to buy at the market price c. the price varies along the market demand curve d. the market demand curve is horizontal e. the market demand curve is vertical

Economics

Assume peanut butter and jelly are complements. Ceteris paribus, an increase in the price of peanut butter will cause the equilibrium price of jelly to

A. Decrease and the equilibrium quantity of jelly to decrease. B. Decrease and the equilibrium quantity of jelly to increase. C. Increase and the equilibrium quantity of jelly to increase. D. Increase and the equilibrium quantity of jelly to decrease.

Economics