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Author Question: Traditional Keynesians argued that when wages are rigid, changes in output result in: a. small ... (Read 62 times)

altibaby

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on: Jun 30, 2018
Traditional Keynesians argued that when wages are rigid, changes in output result in:
 a. small changes in goods market prices and a flat aggregate supply curve.
  b. large changes in goods market prices and a flat aggregate supply curve.
  c. large changes in goods market prices and a steep aggregate supply curve.
  d. small changes in goods market prices and a steep aggregate demand curve.
  e. small changes in goods market prices and a horizontal aggregate demand curve.

Question 2

A price cut will increase the total revenue a firm receives if the demand for its product is:
 a. elastic.
 b. inelastic.
 c. unit elastic.
 d. unit inelastic.


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itsakadoozi

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


altibaby

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

kthug

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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