The Short-Run Aggregate Supply Curve Is Positively Sloped Because

question 4

Multiple Choice

The short-run aggregate supply curve is positively sloped because

• A) a short-run increase in GDP usually is accompanied by a rise in the price level.
• B) many input prices are slow to change in the short run.
• C) all variables are fixed in the short run.
• D) a short-run increase in GDP usually is accompanied by a slower rise in the price level.

---

Definitions:

Firm-specific Human Capital

Knowledge, skills, and abilities acquired by employees that are uniquely valuable to a specific firm or organization.

Process Knowledge

Refers to an understanding of the sequence, methods, and nuances involved in carrying out specific procedures or tasks within an organization.

Job Analysis

The process of determining the duties, responsibilities, and qualifications of a job in order to create job descriptions, job specifications, and performance standards.

Abilities

The skills or competencies individuals possess, which enable them to perform specific tasks effectively.