Module 28 Aggregate supply

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

Which is TRUE with respect to the short-run aggregate supply and the long-run aggregate supply?

The economy can be on both curves simultaneously.

The aggregate supply curve shows the relationship between the aggregate price level and:

aggregate output supplied

According to the short-run aggregate supply curve, when the _________ rises, the quantity of _________ rises.

aggregate price level; aggregate output supplied

The long-run aggregate supply curve is vertical because in the long run:

all prices are flexible.

A rise in labor productivity will most likely result in a(n):

increase in short-run aggregate supply.

In the long run, the aggregate price level has:

no effect on the quantity of aggregate output.

An upward-sloping short-run aggregate supply curve indicates that increases in:

the overall price level will increase the amount of aggregate output supplied by firms.

The short-run aggregate supply curve slopes upward because of:

wage and price stickiness.


Ensembles d'études connexes

Unit 6: Efficient Market Hypothesis and its Critiques

View Set

A&P I - Ex8: Nervous Tissue & Spinal Cord

View Set

8 th English (4) In the Bazaars of Hyderabad

View Set

Health Promotion and Maintenance

View Set

Advantages and Disadvantages of Different routes of administration

View Set

Spanish: personal actions or related (Ken L)

View Set

Ch. 13 Payroll taxes/ liabilities

View Set

exam one study guide / hesi eaq questions

View Set