The Short-Run Aggregate Supply Curve

question 100

Multiple Choice

The short-run aggregate supply curve

• A) is vertical because the economy is at full capacity.
• B) is upward sloping because some costs are slow to rise as output expands.
• C) is horizontal because input prices do not rise as output rises.
• D) cannot be generalized because each economy is unique.

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Definitions:

Provide

To supply or make available something that is needed or desired.

Play Stage

A phase in child development theorized by George Herbert Mead where children begin to take on roles of significant others, practicing and experimenting through play.

Roles

The expected behaviors, duties, and activities assigned to an individual based on their status or position in a social unit or structure.

Proficient

Describes having a high degree of competence or skill in a particular activity or field, often as a result of practice and learning.