Author Question: The wealth effect, the interest rate effect, and the international trade effect account for the: a. ... (Read 2695 times)

Alainaaa8 · **on:** Jun 30, 2018

The wealth effect, the interest rate effect, and the international trade effect account for the:
a. positive slope of the short-run aggregate supply curve.
b. the shape of the long-run aggregate supply curve.
c. positive slope of the aggregate demand curve.
d. negative slope of the aggregate demand curve.
e. negative slope of the short-run aggregate supply curve.

Question 2

Economics is different from a hard science like physics because:
a. economists abstract from reality in creating their theories.
b. economics is easier to study than physics.
c. economists must explain their theories to policy makers who lack formal mathematical training.
d. economists cannot easily control all the variables that might influence human behavior.