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vazorg [7]
3 years ago
13

Which of the following can explain the upward slope of the short-run aggregate supply curve? a. nominal wages are slow to adjust

to changing economic conditions b. as the price level falls, the exchange rate falls c. an increase in the money supply lowers the interest rate d. an increase in the interest rate increases investment spending

Business
1 answer:
Goryan [66]3 years ago
7 0

Answer: A - nominal wages are slow to adjust to changing economic conditions 

Explanation:

In the short run, the costs of many of the factors used in the production process are fixed.  For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.

As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.

Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.

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Anna Jonas owns a manufacturing firm in Indonesia and strongly believes that it is important that​ workers' rights be respected.
Lisa [10]

Answer: cognitive dissonance

               

Explanation: Cognitive dissonance takes place in the fields of psychology when an individual holds two or more irrational beliefs, concepts, or principles, or takes part in a motion that runs counter to any of these three and thereby perspectives mental stress.

Inconvenience is caused by an individual's belief that conflicts with new interpreted proof (statistics) in which they attempt to take steps to address the inconsistency in order to minimize their distress.

In simple words, The concept behind cognitive dissonance shows that people find psychological continuity regarding their life span and the earth's objective reality.

8 0
3 years ago
McDonald's is an excellent example of a firm that simultaneously employs both a product-differentiation and a cost-leadership st
julia-pushkina [17]

Answer:

The correct answer is True.

Explanation:

Product differentiation is a competitive strategy that aims to make the consumer perceive the good or service offered by a company differently from those of the competition.

The cost leadership strategy is to find and maintain a low cost position compared to the competition, this will allow the company to obtain higher returns than the industry average.

There is a relationship between the cost leadership strategy and the possession of a high market share, this is because having a high market share allows the appearance of economies of scale and economies of experience, both contribute to reducing unit costs.

7 0
3 years ago
Read 2 more answers
Assume that the money demand function is (M / P)d = 2,200 – 200r, where r is the interest rate in percent. If the price level is
Wittaler [7]

Answer:

The money supply should be set at 800

Explanation:

In this question, we are asked to calculate the value at which Fed should set the money supply at after fixing the interest rate at 7 percent.

We proceed as follows;

Let the new money supply be M.

To fix the interest rate at 7%, r= 7 and P = 2

(M/P)d = 2,200 - 200r

= 2200 - 200(7)

=2200-1400

= 800

M = 800

8 0
2 years ago
Rational choice theorists would define the behavior of corporate executives who outsource many jobs to countries where the cost
STALIN [3.7K]

Answer: Instrumental

Explanation:

Rational choice theory, is a school of thought which is based on the assumption that individuals will choose a course of action which goes in line with what they personally prefer.

For the instrumental rationality, it has to do with looking for the most cost effective method in order to achieve a particular objective. Therefore, the behavior of corporate executives who outsource jobs to other countries where labor cost is cheaper than in the United States is defined as being instrumental.

8 0
3 years ago
A company is trying to decide which service to subscribe to that will provide datasets containing demographic data on consumers.
poizon [28]

Answer:

The correct answer is Acxiom, Experian, Media Audit.

Explanation:

Demographics are general information about groups of people. Depending on the purpose, the data may include attributes such as age, sex and place of residence, as well as social characteristics such as occupation, family situation or income. In web analytics and online marketing, demographics are used to provide a deeper insight into a website's target audience or to create the so-called people. Demographic data is used primarily for the strategic use of tailoring offerings to the respective target group and can also be used as the basis for business analysis and performance reporting.

6 0
2 years ago
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