A Decrease in the Price Level Is Likely to Decrease

question 193

Multiple Choice

A decrease in the price level is likely to decrease the aggregate amount of output supplied in the short run because

• A) interest rate is high in the short run.
• B) wages are sticky in the short run.
• C) wages change in the short run.
• D) the aggregate supply curve is vertical in the short run.

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Definitions:

Normative Social Influence

The compelling influence of companions or society that leads us to change our demeanor to be welcomed and liked by them.

Ingroup Bias

The tendency to favor and extend loyalty to members of one's own group over others.

Microaggressions

Everyday verbal, nonverbal, and environmental slights, snubs, or insults, whether intentional or unintentional, that communicate hostile, derogatory, or negative messages to target persons based solely upon their marginalized group membership.

Scapegoating

The practice of singling out any party for unmerited negative treatment or blame as a way of deflecting attention from one's own shortcomings.