The money wage rate remains constant

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Reference no: EM131386275

1-If there is an inflationary gap, the market will transition to long run equilibrium by

A.an increase in SRAS caused by a decrease in the wage rate.

B.a decrease in SRAS caused by an increase in the wage rate.

C.a decrease in SRAS caused by a decrease in the wage rate.

D.an increase in SRAS caused by an inecrease in the wage rate.

2-If the price level rises and the money wage rate remains constant, the quantity of real GDP supplied ______ and there is a movement up along the ______ aggregate supply curve.

A.increases; short-run

B.does not change; long-run

C.does not change; short-run

D.decreases; long-run

Reference no: EM131386275

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