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:

Tip-Of-The-Tongue

A cognitive phenomenon where a person cannot recall a familiar word or name but has a strong feeling that they are on the verge of remembering it.

Target Word

A specific word that is the focus of attention in various linguistic or psychological tests or experiments.

Short-Term Memory

A component of memory where small amounts of information can be kept for a short period of time.

Leaky Bucket

A metaphor often used in economics and business to describe a process where resources are lost or wasted.