In the figure above, the economy is at an equilibrium with real GDP of 16 trillion and a price level of 110. As the economy moves toward its ultimate equilibrium, the ________ curve shifts ________ because ________.
A) aggregate supply; leftward; the money wage rate rises
B) aggregate supply; rightward; the money wage rate falls
C) aggregate demand; rightward; the money wage rate falls
D) aggregate demand; leftward; the money wage rate rises
E) potential GDP; leftward; the money wage rate falls
Question 2
Fill in the blank: Since millions of people now use email as opposed to traditional snail mail, the price elasticity of demand for the Post Office's first class letter service tends to ________.
A) decrease
B) increase
C) increase in the short run but then decrease in the long run
D) leave unchanged
Does this child have legs of different lengths or scoliosis? Look at the level of the iliac crests a
Major trunk lines carrying long-distance traffic crisscrossed the area east of the Mississippi. The
Examples of Basic-Level, Subordinate, and Superordinate Concepts
Normal change in sea level
Ice Age Sea Level
The Hardy–Weinberg equilibrium for autosomal genes