Suppose the Price Level Rises and the Money Wage Remains

question 311

Multiple Choice

Suppose the price level rises and the money wage remains constant. This set of changes leads to

• A) a leftward shift of the SAS curve.
• B) an upward movement along the LAS curve.
• C) an upward movement along the SAS curve.
• D) a leftward shift of the SAS curve and the LAS curve.

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Definitions:

Outgroup

A social group to which an individual does not identify or belong, often perceived as fundamentally different or distinct from one's in-group.

Inferior

Considered lower in status, quality, or importance compared to others.

Outgroup Homogeneity Effect

cognitive bias referring to the tendency to see members of an outgroup as more similar to each other than members of one's ingroup.

Similar

Having traits or characteristics in common; alike in substance or essentials.