Multiple Choice
Which of the following statements regarding aggregate supply are correct?
A) Moving along the long-run aggregate supply curve, the money wage rate changes but the price level is constant.
B) Moving along the short-run aggregate supply curve, the money wage rate changes but the price level is constant.
C) Moving along the long-run aggregate supply curve, both the price level and the money wage rate change by the same percentage.
D) Moving along the short-run aggregate supply curve, both the price level and the money wage rate change by the same percentage.
Correct Answer:
Verified
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