Given Implicit or Explicit Resource Price Agreements, If the Actual

Multiple Choice

Given implicit or explicit resource price agreements, if the actual price level is below the expected price level in an economy, the _____

A) economy will move upward along the short-run aggregate supply curve.
B) economy will move downward along the short-run aggregate supply curve.
C) short-run aggregate supply curve will shift to the left.
D) long-run aggregate supply curve will become steeper.
E) short-run aggregate supply curve will become flatter.