This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the aggregate supply curve is vertical, then shifts in aggregate demand will not change aggregate ... (Read 133 times)

big1devin

  • Hero Member
  • *****
  • Posts: 583
on: Jun 30, 2018
If the aggregate supply curve is vertical, then shifts in aggregate demand will not change aggregate output.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the price of wine increases, the quantity purchased will increase. Is this a positive or a normative economic statement? Explain your answer.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leannegxo

  • Sr. Member
  • ****
  • Posts: 374
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

Since it is a testable proposition, it is a positive economic statement. The statement need not be true, only testable.


big1devin

  • Member
  • Posts: 583
Reply 2 on: Jun 30, 2018
:D TYSM

Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Barriers to change Barriers to change
The oxygen isotope curve illustrates the ratio between 16O and 18O. The oxygen isotope curve illustrates the ratio between 16O and 18O.
An Inverted U Curve An Inverted U Curve
Cloud Types: Vertical Development Cloud Types: Vertical Development
Climate Change Climate Change
Land use change and forestry are responsible for 18% of global greenhouse gas emissions Land use change and forestry are responsible for 18% of global greenhouse gas emissions
Video: Simple Diffusion - Ion transport

For a complete list of videos, visit our video library