When the Short-Run Aggregate Supply Curve Is Steep,then for a Given

question 132

Multiple Choice

When the short-run aggregate supply curve is steep,then for a given increase in aggregate demand:

• A)the increase in real GDP will be relatively small and the increase in the price level will be relatively large.
• B)the increase in real GDP will be relatively large and the increase in the price level will be relatively small.
• C)the increase in both real GDP and the price level will be large.
• D)the increase in both real GDP and the price level will be small.
• E)the decrease in real GDP will be larger than the decrease in the price level.

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Definitions:

Durkheim

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