​ a Short-Run Aggregate Supply Curve (SRAS) Assumes

question 123

Multiple Choice

​ A short-run aggregate supply curve (SRAS) assumes:

• A) ​the CPI is fixed.
• B) ​each point on the SRAS is potential real GDP.
• C) fixed or sticky nominal wages.
• D) ​nominal wages vary directly with price changes.

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Definitions:

Black Male Suffrage

The right of black men to vote, especially significant in the context of post-Civil War America with the passage of the 15th Amendment.

Reconstruction Act

Legislation passed after the Civil War aimed at rebuilding and integrating the Southern states back into the Union, including provisions for civil rights of the freed slaves.

Fourteenth Amendment

Added to the U.S. Constitution in 1868, guaranteeing equal protection under the laws to all citizens and crucial in extending civil rights and liberties.

Birthright Citizenship

The legal principle which grants citizenship to individuals born within a country's territories, regardless of their parents' nationality.