Which of These Is Not Assumed to Be Constant Along

question 125

Multiple Choice

Which of these is not assumed to be constant along a short-run aggregate supply curve?

• A)The actual price level
• B)The state of technology
• C)The size and quality of the labor force
• D)The expected price level
• E)The size and quality of the capital stock

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Definitions:

Decision-Making Process

The cognitive process leading to the selection of a course of action among several alternative scenarios.

Black Box

A system or object which can be viewed in terms of its inputs and outputs without any knowledge of its internal workings.

Cognitive Dissonance

The conflict (i.e., remorse) that buyers feel after making a major purchase.

Marketing Research

The process of gathering, analyzing, and interpreting information about a market, and about the past, present, and potential customers for the product or service.