This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the aggregate supply curve is vertical, then shifts in aggregate demand will not change aggregate ... (Read 72 times)

big1devin

  • Hero Member
  • *****
  • Posts: 583
on: Jun 30, 2018
If the aggregate supply curve is vertical, then shifts in aggregate demand will not change aggregate output.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the price of wine increases, the quantity purchased will increase. Is this a positive or a normative economic statement? Explain your answer.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leannegxo

  • Sr. Member
  • ****
  • Posts: 374
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

Since it is a testable proposition, it is a positive economic statement. The statement need not be true, only testable.


big1devin

  • Member
  • Posts: 583
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Close-up of the underside of a gecko's foot as it walks on vertical glass Close-up of the underside of a gecko's foot as it walks on vertical glass
Shifts between Warm and Cold Periods during the Last 3 Million Years Shifts between Warm and Cold Periods during the Last 3 Million Years
Attention and memory are in demand during circle time. Attention and memory are in demand during circle time.
Nursing Interventions and Prochaska's Stages of Change Nursing Interventions and Prochaska's Stages of Change
The induced conformational change in hexokinase The induced conformational change in hexokinase
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Video: What are Strong & Weak Acids and How they're different?

For a complete list of videos, visit our video library