In the Sticky-Price Model, If No Firms Have Flexible Prices

question 57

Multiple Choice

In the sticky-price model, if no firms have flexible prices, the short-run aggregate supply schedule will:

• A) be vertical.
• B) be steeper than it would be if some firms had flexible prices.
• C) slope upward to the right.
• D) be horizontal.

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Definitions:

Morpholino

Synthetic molecules used to modify gene expression, particularly in the study of gene function in developmental biology.

Species

According to the biological species concept, one or more populations whose members are capable of interbreeding in nature to produce fertile offspring and do not interbreed with members of other species. Compare with phylogenetic species concept.

Population

A group of organisms of the same species that live in a defined geographic area at the same time.

Community

An association of populations of different species living together in a defined habitat with some degree of interdependence. Compare with ecosystem.