Beginning from a position of long-run equilibrium at the full-employment level of real GDP, the economy's short-run response to a decrease in the aggregate demand curve would be a:
a. movement upward along the short-run aggregate supply curve
b. movement upward along the long-run aggregate supply curve.
c. downward shift in the short-run aggregate supply curve.
d. movement downward along the short-run aggregate supply curve.
d
Economics
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If aggregate expenditure is less than GDP, then inventories rise and GDP falls
Indicate whether the statement is true or false
Economics
The marginal factor cost is the
A) additional revenue obtained from a one-unit change in labor input. B) additional revenue obtained from a one-unit change in output. C) change in output resulting from the addition of one more worker. D) cost of using an additional unit of an input.
Economics