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The Upward Slope of the Short-Run Aggregate Supply Curve Is

Question 104

Multiple Choice

The upward slope of the short-run aggregate supply curve is based on the assumption that:


A) Wages and other resource prices do not respond to price level changes
B) Wages and other resource prices do respond to price level changes
C) Prices of output do not respond to price level changes
D) Prices of inputs flexible while prices of outputs are fixed

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