Suppose there is an increase in short- run aggregate supply with no change in long- run aggregate supply. This situation could be the result of
A) an increase in the quantity of capital.
B) a decrease in the money wage rate.
C) an increase in the price of oil.
D) a technological advancement.
Correct Answer:
Verified
Q7: In the macroeconomic long run,
A) real GDP
Q56: A classical economist believes that
A)the economy is
Q57: Q58: The Reserve Bank lowers interest rates. As Q59: According to the intertemporal substitution effect, a Q61: The short- run aggregate supply curve Q62: The intertemporal substitution effect refers to the Q63: For movements along the short- run aggregate Q64: Which of the following statements correctly describes Q65: Aggregate demand increases if the quantity of
A)is vertical.
B)is
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