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

question 124

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

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Definitions:

Unanimous Vote

A vote in which all members of a given group or assembly agree on a single decision or outcome.

Majority Vote

A voting outcome where more than half of the votes cast decide an issue or election.

Common Stock

Corporate stock that does not convey any preferences to its holders.

Corporation

A legal entity formed by issuing stock to investors, who are the owners of the corporation.