The Short-Run Aggregate Supply Curve Slopes Upward Because,with a Given

question 145

Multiple Choice

The short-run aggregate supply curve slopes upward because,with a given equilibrium wage rate,a higher actual price level will

• A)reduce the actual real wage and induce firms to hire more labor.
• B)shift the labor supply curve.
• C)increase the aggregate demand for goods,so that output will rise.
• D)All of these.

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Definitions:

Personal Communication

involves direct, face-to-face interaction or the use of personal media to exchange messages between individuals for personal or private matters.

Cyber Loafing

The act of using the internet and digital devices for non-work-related purposes during work hours, leading to reduced productivity.

Employee Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee.

Job Satisfaction

The level of contentment or happiness an individual feels towards their job, influenced by factors such as work environment, responsibilities, and compensation.