Answer:
Slope of short-run aggregate supply curve: wage-price flexibility
In the short run, some factors are fixed and some factors can vary and the costs incurred on fixed factors are constant. Thus, the price level does not change as fast as it could have been if all are variable resources.
However, if prices are subjected to the variation in the wages, then the price level will increase faster than the costs. If actual price level is below the expected level, then the nominal wage rate is more than the expected and vice-versa. This would result in a greater slope of the short-run aggregate supply curve, which means short-run aggregate supply curve will be relatively steeper.
In the short run, the wage rate and price level are sticky downward because fall in nominal wage of workers will reduce the incentive to work.
Hence, if the wage rate adjusts continuously to any change in price; then the aggregate supply curie is relatively steep, and when wage and price level are sticky, then the short-run aggregate supply curve will be relatively flat.
Answer:
The correct answer is C. when income increases, demand for a normal good increases while demand for an inferior good falls.
Explanation:
The normal good is that whose quantity demanded for each of the prices increases when the rent increases. A lower good is one whose quantity demanded decreases when income increases. The inferior goods are usually those for which there are higher quality alternatives. When it comes to a normal good, increasing the income of the consumer increases the quantity demanded at each price. Causing a shift in demand to the right.
I disagree because you should never change the truth just a little because if you do your lying to yourself and everybody else.
Read the excerpt from Queen Elizabeth's Address to the Troops at Tilbury.
I know I have the body but of a weak and feeble woman; but I have the heart and stomach of a king, and of a king of England too, and think foul scorn that Parma or Spain, or any prince of Europe, should dare to invade the borders of my realm; to which, rather than any dishonour shall grow by me, I myself will take up arms, I myself will be your general, judge, and rewarder of every one of your virtues in the field.
In this excerpt, Queen Elizabeth is attempting to persuade troops that she
dislikes most European countries.
has the qualities of a capable leader.
is physically able to fight as a soldier.
will make a fair and virtuous judge.
Answer:
The correct answer is letter "E": None of the above.
Explanation:
Microeconomics deals with the economic choices of individuals and small companies. Jointly, these individual decisions influence the demand for and supply of goods and services in the economy. One of the subjects most discussed in microeconomics is the supply, demand and equilibrium model.
A)<em> Global warming research turns out to correctly predict the weather in the future. (No major impact in economy)</em>
B)<em> The dictator of a country builds ten new airports. (Macroeconomic)</em>
C)<em> A child buys a delicious chocolate bar. (No major impact in economy)</em>
D) The country of Montenegro adopts the Euro. (Macroeconomic)
<em>None of the statements above represents a microeconomic phenomenon.</em>
