Which of the Following Statements Regarding Aggregate Supply Are Correct

question 215

Multiple Choice

Which of the following statements regarding aggregate supply are correct?

• A) Moving along the long-run aggregate supply curve, the money wage rate changes but the price level is constant.
• B) Moving along the short-run aggregate supply curve, the money wage rate changes but the price level is constant.
• C) Moving along the long-run aggregate supply curve, both the price level and the money wage rate change by the same percentage.
• D) Moving along the short-run aggregate supply curve, both the price level and the money wage rate change by the same percentage.

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Definitions:

Intervening Causes

Events that occur after a defendant's negligent act and contribute to a plaintiff's injury, potentially affecting liability and damages.

Superseding Causes

Events or actions that intervene in a chain of causation and prevent an actor from being liable for harm to another.

Harm

Refers to damage or injury that affects someone or something's well-being or functionality.

Abnormally Dangerous Activity

An abnormally dangerous activity is any activity that inherently involves a high risk of harm or injury to people or property, even when all possible safety measures are taken.