Along a Short-Run Aggregate Supply Curve Firms Are Willing to Produce

question 73

Multiple Choice

Along a short-run aggregate supply curve firms are willing to produce more output if a ________ causes the real wage to ________.

• A)higher nominal wage,rise
• B)lower nominal wage,fall
• C)higher price level,rise
• D)lower nominal wage,rise
• E)higher price level,fall

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Definitions:

Young-Helmholtz Theory

A theory of color vision that proposes the eye contains three types of color receptors, which are sensitive to red, green, and blue.

Primary Color

One of a small group of colors (typically red, green, and blue for light or cyan, magenta, and yellow for pigment) that can be combined to create a full spectrum of colors.

Trichromatic Analysis

A theory of color vision based on the idea that the eye contains three types of color receptors, sensitive to red, green, and blue light.

Primary Colors

A set of colors from which all other colors can be obtained through mixing; in the context of additive color mixing – red, green, and blue; for subtractive mixing – cyan, magenta, and yellow.