The Short-Run Aggregate Supply Curve Slopes Upward Because Quantity Supplied

question 2

Multiple Choice

The short-run aggregate supply curve slopes upward because quantity supplied

• A)increases when cost per unit falls
• B)decreases when cost per unit falls
• C)increases when the price level increases
• D)increases when GDP decreases
• E)decreases as profit per unit increases

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Definitions:

Service Sector

The segment of the economy that provides services rather than goods, including industries like healthcare, education, and finance.

Division of Labor

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Genetic Engineering

The modification of an organism's characteristics by manipulating its genetic material, often to include traits that do not occur naturally.

Social Inequality

The unequal distribution of resources, opportunities, and privileges among individuals or groups in a society.