Moving Along the AS Curve,when the Price Level Increases,the

question 295

Multiple Choice

Moving along the AS curve,when the price level increases,the

• A)real wage rate falls,and there is an increase in the quantity of real GDP supplied.
• B)real wage rate rises,and there is an increase in the quantity of real GDP supplied.
• C)nominal wage rate falls,and there is an increase in the quantity of real GDP supplied.
• D)nominal wage rate rises,and there is a decrease in the quantity of real GDP supplied.
• E)real wage rate rises,and there is a decrease in the quantity of real GDP supplied.

---

Definitions:

Random Sample

A group of people selected from a bigger group, with every person having the same probability of being chosen.

Standard Deviation

A statistical tool that measures the extent of variation or scattering of values in a dataset, pointing out how much the data varies from the mean.

Normal Population

A statistical population that follows a normal distribution, characterized by its bell-shaped curve where most observations cluster around the central peak and the probabilities for values to occur are symmetrically distributed around the mean.

Mean Age

The average age calculated by adding all the ages together and dividing by the number of individuals.