The Slope of the Aggregate Supply Curve Increases as Output

question 131

Multiple Choice

The slope of the aggregate supply curve increases as output increases because

• A)the cost of resource use increases as potential is reached.
• B)consumers are willing to pay more as output expands.
• C)firms substitute capital for labor as prices increase.
• D)firms substitute capital for labor as capacity is reached.

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Definitions:

Altruistic Motivations

The driving force behind actions that are primarily concerned with the welfare of others, rather than one's own self-interest.

Leaders

Individuals who guide or direct groups, organizations, or movements by setting goals, creating visions for the future, and motivating others to achieve those objectives.

Data Information System

An integrated system that collects, stores, manages, and interprets data to support decision-making processes within an organization.

Organizational Programs

Planned activities and efforts undertaken by an organization to achieve specific goals and objectives.