Use the Following to Answer Questions

question 20

Multiple Choice

Use the following to answer questions:
-(Figure: Aggregate Supply) Refer to Figure: Aggregate Supply.If the economy is at point E,nominal wages will _____,and the short-run aggregate supply curve will shift _____ until actual output is _____ potential output.

• A) increase;left;equal to
• B) increase;right;greater than
• C) decrease;right;equal to
• D) decrease;right;less than

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Definitions:

Controlled Processing

The mental activity that requires deliberate, conscious attention and effort, as opposed to automatic processes that require minimal awareness.

Social Loafing

The tendency of individuals to exert less effort on a task when working in a group compared to when working alone.

Contributions

Acts or offerings that aid in advancing a cause or improving a situation, often involving time, money, or effort towards a collective goal.

Identified

Something or someone that has been recognized and named as being a particular person or thing.