Moving Along the Aggregate Supply Curve, When the Price Level

question 167

Multiple Choice

Moving along the aggregate supply curve, when the price level rises, the

• A)quantity supplied does not change because the aggregate supply curve is a vertical line.
• B)the quantity supplied increases.
• C)the quantity supplied decreases.
• D)the aggregate demand curve shifts rightward.
• E)the aggregate demand curve shifts leftward.

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Definitions:

Secret Profit

Earnings or benefits gained by an individual, typically in a position of trust, without the knowledge or approval of those entitled to know about such gains.

Agency Relationship

The legal arrangement where one party, the agent, acts on behalf of another, the principal, within the scope of authority granted by the principal.

Principal Had Dealt

A legal principle indicating acts or decisions made by an agent are legally binding on the principle if the agent acts within their authority.

Agent's Functioning

The actions carried out by an agent on behalf of a principal in the course of their agency relationship.