The Economy's Long-Run AS Curve Assumes That Wages and Other

question 268

Multiple Choice

The economy's long-run AS curve assumes that wages and other resource prices

• A) eventually rise and fall to match upward or downward changes in the price level.
• B) are flexible upward but inflexible downward.
• C) rise and fall more rapidly than the price level.
• D) are relatively inflexible both upward and downward.

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Definitions:

Histogram

A graphical representation of the distribution of numerical data through bars of different heights, which illustrate the frequencies of data within specified intervals.

Class Size

Refers to the number of students enrolled in a particular class or course, often considered in educational discussions regarding learning outcomes.

Histogram

A type of bar chart that represents the distribution of numerical data by showing the frequency of data intervals.

Classes

Categories or groups into which data or objects are organized based on shared characteristics or attributes.