The Short-Run Aggregate Supply Curve Is Upward-Sloping Because

question 124

Multiple Choice

The short-run aggregate supply curve is upward-sloping because:

• A)of the interest-rate effect.
• B)higher price levels create incentives to expand output when resource prices remain constant.
• C)of the net export effect.
• D)higher price levels create an expectation among producers of still higher price levels.

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