Aggregate Demand and Aggregate Supply 14

Aggregate Demand and Aggregate Supply 14 - 14 Problems and...

This preview shows page 1 out of 1 page.

Unformatted text preview: 14 . Problems and Applicafions 06 Complete the statements about the foliowing three flleories far the upward slope of the shart—mn aggregate—supply wrve. According to the stichHuage flleorv, the economy is in a recession because the price level has declined so that real wage; are too high I ; thus, labor demand is too low 1’ . According to the sticky—price flleorv, the economy is in a recasion because not all mica adjust quickly 1! . According to the mispercenfions flleory, the economy is in a recmsion when the price level is below I what was expected. ...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern