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Author Question: The short-run aggregate supply curve: a. has the same slope as the LRAS. b. shifts only when the ... (Read 65 times)

arivle123

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on: Jun 30, 2018
The short-run aggregate supply curve:
 a. has the same slope as the LRAS.
 b. shifts only when the LRAS shifts in the same direction.
 c. normally slopes upward to the right because the costs of labor and other inputs are relatively fixed in the short run.
  d. normally has a slope of zero, meaning the curve is horizontal.

Question 2

Other things equal, a reduction in personal income taxes will decrease consumption and will have an expansionary effect on real GDP.
 a. True
  b. False
  Indicate whether the statement is true or false


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kkenney

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

c

Answer to Question 2

False


arivle123

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

blakcmamba

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Reply 3 on: Yesterday
Excellent

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