Suppose the Price Level, the Money Wage, and the Price

question 158

Multiple Choice

Suppose the price level, the money wage, and the price of all other resources rise by 10 percent. This set of changes leads to

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

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Definitions:

Tecumseh

A Native American leader of the Shawnee and a major figure in the early 19th century, advocating for the unification of various Native American tribes to resist westward expansion by European settlers.

Tippecanoe

The site of an 1811 battle in the Indiana Territory, where future President William Henry Harrison defeated Native American forces led by Tecumseh's brother, Tenskwatawa.

Customs Collectors

Officials responsible for collecting duties imposed by a government on imported and exported goods.

Democratic-Republican

A political party in the United States that evolved in the 1790s and supported states' rights and agriculture, opposing the Federalist Party.