The Long-Run Aggregate Supply Curve Is ________ Because Along It

question 138

Multiple Choice

The long-run aggregate supply curve is ________ because along it, as prices rise, the money wage rate ________.

• A)vertical; falls
• B)upward- sloping; falls
• C)vertical; rises
• D)upward- sloping; stays constant

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Definitions:

Door-In-The-Face Technique

Influence technique based on reciprocity, in which one starts with an inflated request and then retreats to a smaller request that appears to be a concession.

Labeling Technique

Influence technique based on consistency, in which one assigns a label to an individual and then requests a favor that is consistent with the label.

Self-Fulfilling Prophecy

A forecast that, either directly or indirectly, ensures its own accuracy through a positive loop between what is believed and how one acts.

Foot-In-The-Door Technique

Influence technique based on commitment, in which one starts with a small request in order to gain eventual compliance with a larger request.