The Aggregate Supply Curve Slopes

question 135

Multiple Choice

The aggregate supply curve slopes

• A)downward because firms can sell more at lower prices.
• B)downward because firms can hire more workers at lower prices.
• C)upward because firms want to hire more workers at higher wage levels.
• D)upward because firms can hire labor at fixed wages for short-run periods.

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Definitions:

Nonprogrammed Decisions

Decisions made in response to situations that are unique, poorly defined, and largely unstructured.

Crisis

A critical or pivotal point in a situation, often a period of instability or danger, which requires immediate and decisive action to resolve.

Internal and External Information

Information used in decision making; internal information originates from within an organization, while external information comes from outside sources.

Strategic Thinking

The ability to anticipate, envision, maintain flexibility, and work with others to initiate changes that will benefit in the future.