The Short-Run Aggregate Supply Curve Is Positively Sloped Because

question 13

Multiple Choice

The short-run aggregate supply curve is positively sloped because:

• A) wages and other costs of production respond immediately to changes in prices.
• B) profit is lower when prices increase, so output decreases.
• C) workers are willing to work for lower wages rather than be laid off.
• D) higher prices lead to higher profit and higher output.

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Definitions:

Diverse Workforce

A composition of employees with varying characteristics including, but not limited to, racial, ethnic, gender, age, and cultural differences.

Modern Workplace

A contemporary office or business environment that leverages technology and flexible policies to enhance productivity and employee satisfaction.

Work Sharing

The distribution of tasks among team members or departments to increase efficiency or manage workloads more effectively.

Retain Trained Workers

The strategies and practices employed by organizations to keep skilled employees from leaving the company.