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Author Question: One factor that explains the short-run trade-off between inflation and unemployment is labor ... (Read 31 times)

vicotolentino

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on: Jun 30, 2018
One factor that explains the short-run trade-off between inflation and unemployment is labor contracts that fix wages for an extended period of time.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the short run elasticity of demand for widgets is 0.4 and the long run elasticity of demand for widgets is 0.95, a decrease in price will ____ total revenue in the short run and ____ total revenue in the long run.
 a. Increase; increase.
 b. Increase; decrease.
  c. Decrease; increase.
  d. Decrease; decrease.


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juicepod

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

True

Answer to Question 2

d


vicotolentino

  • Member
  • Posts: 552
Reply 2 on: Jun 30, 2018
Excellent

emsimon14

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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