Write down the definition of "supply curve".
Is the supply curve positively sloped or negatively sloped?
Explain why by pointing out the foundamental economic assumption
that determines the slope of the supply curve.
Write down the definition of "supply curve".
Is the supply curve positively sloped or negatively
sloped?
Explain why by pointing out the foundamental economic
assumption that determines the slope of the supply curve.
4. Explain why the aggregate supply curve is positively
sloped during the short run and vertical in the long
run.
5. List some examples of factors that will shift the
aggregate demand curve.
6. List some examples of factors that will shift the
long-run aggregate supply curve.
Recent research has suggested that the Phillips Curve has
flattened substantially. Provide one reason why this might have
happened, and explain the implications for business cycle
fluctuations
1. The individual labor supply curve will be negatively sloped
if the substitution effect of wages is:
Group of answer choices
a) Weaker than the income effect of wages.
b) Equal to the income effect of wages.
c) Stronger than the income effect of wages.
d) Negative.
2.
Ceteris paribus, if immigration to the United States
increases the number of workers, the market labor-supply curve will
shift to the:
Group of answer choices
a) Right and the equilibrium wage rate...