The Aggregate Supply Curve Tends to Be Relatively Steep When

question 116

Multiple Choice

The aggregate supply curve tends to be relatively steep when GDP is above potential output because firms are operating above ________,and ________ are rising rapidly.

• A)equilibrium output; unit costs
• B)profit-maximizing output; total costs
• C)capacity; unit costs
• D)equilibrium output; total costs
• E)equilibrium output; average costs

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Definitions:

Bulbourethral Glands

Small glands located near the base of the penis in male mammals that produce a pre-ejaculate fluid to lubricate the urethra.

Prostaglandins

are lipid compounds that perform a variety of hormone-like actions in animals, including inflammation regulation and smooth muscle contraction.

Laparoscope

A surgical instrument used for viewing the internal parts of the abdomen without making large incisions.

Oviduct

The tube that carries ova from the ovary to the uterus, cloaca, or body exterior. Also called fallopian tube or uterine tube.