Moving Along the Short-Run Aggregate Supply Curve, ________

question 90

Multiple Choice

Moving along the short-run aggregate supply curve, ________.

• A)real GDP equals potential GDP
• B)real GDP equals nominal GDP
• C)the real wage rate is constant
• D)the money wage rate, the prices of other resources, and potential GDP remain constant

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Definitions:

Income

The financial gain accrued by an individual or entity within a specified period, often through wages, salaries, or investments.

APC

Usually refers to Average Propensity to Consume, which is the fraction of income spent on consumption rather than saved.

Income

Money received, especially on a regular basis, for work or through investments, constituting the financial resource available to individuals or entities for expenditure or investment.

Income

Earnings received through work, investments, or government benefits, among other sources.