In the Upward-Sloping Segment of the Aggregate Supply Curve

question 30

Multiple Choice

In the upward-sloping segment of the aggregate supply curve,

• A) increases in output are linked to decreases in the price level.
• B) increasing prices drag down resource costs.
• C) producers can hire more workers without having to raise the wage rate.
• D) the economy can increase aggregate supply without prices going up.
• E) firms are willing to pay higher wages to get more labor.

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Definitions:

Security Needs

A level in Maslow's hierarchy of needs, focusing on the desire for safety, stability, and protection from physical and emotional harm.

Affiliation Needs

The human desire to form and maintain interpersonal relationships, connections, and a sense of belonging.

Safety Needs

Basic human needs for security and protection from harm, as identified in Maslow's hierarchy of needs, following physiological needs.

Recognition Needs

Human needs pertaining to the desire for appreciation, acknowledgement, and validation of one’s skills, accomplishments, and contributions.