The Horizontal Shape of the Immediate Short Run Aggregate Supply

question 47

Multiple Choice

The horizontal shape of the immediate short run aggregate supply implies that:

• A)the total amount of output in the economy depends only on the general price level.
• B)the total amount of output in the economy depends only on the volume of spending.
• C)the total amount of output in the economy is fixed.
• D)the total amount of spending depends on the price of inputs.

---

Definitions:

Academically Respectable

Pertains to ideas, research, or scholars that are widely recognized and valued within the academic community for their rigor and contribution to knowledge.

Personality Theorist

An individual specializing in the study and analysis of personality, focusing on different aspects of character and behavior formation.

Mainstream

Refers to the ideas, attitudes, or activities that are regarded as normal or conventional within a society.

Life Histories

A research method or an approach in studying individuals' lives within their social context, emphasizing personal narratives, experiences, and historical factors.