Multiple Choice
The slope of the short-run aggregate supply curve depends on how sharply:
A) the marginal cost of production rises as real GDP expands.
B) the average cost of production rises as real GDP expands.
C) real GDP increases as the price level rises.
D) nominal GDP increases as the price level rises.
E) product prices change as the price level rises.
Correct Answer:
Verified
Correct Answer:
Verified
Q33: The short-run aggregate supply curve:<br>A)is positively sloped.<br>B)is
Q34: The figure below shows short-run equilibrium in
Q35: The figure given below depicts long-run equilibrium
Q36: Which of these is an advantage of
Q37: An expansionary gap in the short-run results
Q39: The nominal cost per unit of output
Q40: Wage rates are typically flexible upward but
Q41: In the short run,there is a positive
Q42: In the long run,a decrease in aggregate
Q43: Which of the following does not influence