Which one of the following newspaper quotations describes a shift of only the SAS curve?
A) "The decrease in consumer spending may lead to a recession."
B) "The increase in consumer spending is expected to lead to inflation, without any increase in real GDP."
C) "Recent higher wage settlements are expected to cause higher inflation this year."
D) "Growth has been unusually high the last few years due to more women entering the work force."
E) "The recent tornadoes destroyed many factories in Calgary and Edmonton."
Correct Answer:
Verified
Q3: Use the figure below to answer the
Q4: Suppose there is an increase in the
Q5: Which of the following does not change
Q6: Which one of the following newspaper quotations
Q7: Potential GDP is the level of real
Q9: Potential GDP
A)increases as the price level rises.
B)is
Q10: The long-run aggregate supply curve is vertical
Q11: If the money wage rate falls, then
A)the
Q12: The short-run aggregate supply curve is the
Q13: The long-run aggregate supply curve is
A)vertical.
B)negatively sloped.
C)positively
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