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Author Question: When the reservation wage is adjusted to account for a higher inflation rate: a. the aggregate ... (Read 18 times)

Collmarie

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on: Jun 30, 2018
When the reservation wage is adjusted to account for a higher inflation rate:
 a. the aggregate demand curve shifts to the right.
  b. the price level falls.
  c. the short-run Phillips curve shifts outward.
  d. production costs of businesses decline.
  e. the aggregate supply curve shifts to the right.

Question 2

Price elasticity of demand is a measure of the relative responsiveness of the change in price to a change in quantity demanded.
 a. True
  b. False
  Indicate whether the statement is true or false
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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jamesnevil303

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

c

Answer to Question 2

False


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