The Aggregate Supply Curve Slopes

question 62

Multiple Choice

The aggregate supply curve slopes

• A)downward because firms can sell more at lower prices.
• B)downward because firms can hire more workers at lower prices.
• C)upward because firms want to hire more workers at higher wage levels.
• D)upward because firms can hire workers at fixed wages for short-run periods.

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Definitions:

Biases

Prejudices or inclinations that affect judgment, causing partiality or favoritism in decision-making, often leading to unfair outcomes.

Prejudice

A preconceived opinion or bias against a person or group that is not based on reason or actual experience, often leading to discriminatory behavior.

Dual Process Approach

This approach in psychology posits that there are two distinct systems for processing information: one that is intuitive and automatic, and another that is deliberative and controlled.

Biased Attitudes

Refers to having a preference or inclination that is partial and prevents objective consideration of an issue or situation.