In the Aggregate Supply Relation, an Increase in Current Output

question 6

Multiple Choice

In the aggregate supply relation, an increase in current output causes:

• A) an increase in the expected price level and an upward shift of the AS curve.
• B) a shift of the aggregate supply curve.
• C) a change in the expected price level this year.
• D) an increase in the current price level.
• E) an increase in the markup over labour costs.

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Definitions:

Photoautotroph

Organisms that carry out photosynthesis, using light energy to synthesize organic compounds from inorganic substances.

Sac Fungi

A group of fungi belonging to the Ascomycota Phylum, characterized by the production of spores in special structures called asci.

Ascomycota

A phylum of fungi characterized by the formation of spores in sac-like structures called asci, which includes many medically and industrially important species.

Basidiomycota

A large division of fungi, commonly known as club fungi, that includes mushrooms, toadstools, puffballs, and shelf fungi, characterized by producing spores on basidia.