Consider the AD/AS Macro Model

question 109

Multiple Choice

Consider the AD/AS macro model.An important asymmetry in the behaviour of aggregate supply is the

• A)changing slope of the aggregate demand curve.
• B)difference between actual and potential output.
• C)different relative sizes of inflationary versus recessionary gaps.
• D)economy's path of potential output as a result of labour force growth.
• E)different speeds at which factor prices adjust to positive and negative output gaps.

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Definitions:

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The study of society and human behavior through contemporary theoretical frameworks and research methods.

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A French philosopher known as the founder of sociology and positivism, emphasizing empirical observation and the scientific study of society.