The Aggregate Supply Curve Will Be Vertical When

question 172

Multiple Choice

The aggregate supply curve will be vertical when:

• A) output can be increased without an increase in the price level.
• B) the economy is operating at full-employment capacity.
• C) output and price level rise together.
• D) the aggregate demand curve is shifting to the left.
• E) aggregate demand is absent.

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Definitions:

Surplus

The amount by which revenues, resources, or supplies exceed what is needed or used; in finance, it refers to profit or the amount by which income exceeds expenditures.

Revised Article 9

An update to the Uniform Commercial Code that deals with secured transactions; it governs the process of securing assets to back a loan.

UCC

The Uniform Commercial Code is a widespread legislative schema that guides all commercial operations in the United States.

Security Agreement

is a legal document that provides a lender a security interest in a specified asset or property that serves as collateral for a loan.