The Short-Run Aggregate Supply Curve Is Upsloping Because Higher Price

question 256

Multiple Choice

The short-run aggregate supply curve is upsloping because higher price levels

• A) lower interest rates and encourage firms to invest and produce more.
• B) create incentives to expand output when resource prices are unresponsive to price-level changes.
• C) encourage importation of foreign goods.
• D) create an expectation among producers of still higher price levels.

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