The Aggregate Supply Curve (Short Run) Is Upsloping Because

question 187

Multiple Choice

The aggregate supply curve (short run) is upsloping because

• A) wages and other resource prices match changes in the price level.
• B) the price level is flexible upward but inflexible downward.
• C) per-unit production costs rise as the economy moves toward and beyond its full- employment real output.
• D) wages and other resource prices are flexible upward but inflexible downward.

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Definitions:

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Student Loans

Loans offered to students to finance their education, typically with terms that defer payments until after graduation.

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Charges that have been incurred but not yet paid or recorded by the end of the accounting period.

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Loans provided by financial institutions to individuals for the purchase of a home, secured by the property itself.