Name: 1 True or False. Explain only if it is false. (Each is 4 points) 1. It is well known that Henry Ford's payment of

[answerhappygod]

Name 1 True Or False Explain Only If It Is False Each Is 4 Points 1 It Is Well Known That Henry Ford S Payment Of 1 (26.49 KiB) Viewed 15 times

Name: 1 True or False. Explain only if it is false. (Each is 4 points) 1. It is well known that Henry Ford's payment of his workers of five dollars a day was higher than his competitor for a short while. This is an example of a relative-wage explanation of unemployment. 2. Aggregate demand curve is downward sloping because there is an inverse relationship be tween the price of a product and the quantity demanded. 3. When an economy is close to its capacity, the central bank is more likely to conduct (pee- form) an expansionary monetary policy. 4. When the number of households who have an access to internet increases in an economy. the natural rate of unemployment decreases. 5. Aggregate supply curve is the sum of the individual supply curves in economy. 6. An increase in the price level is likely to increase the aggregate amount of output supplied in the short run because wages quickly respond to price changes in the short-run.