The Steeper the Short-Run Aggregate Supply Curve

question 94

Multiple Choice

The steeper the short-run aggregate supply curve,

• A)the steeper the aggregate demand curve
• B)the larger the value of the spending multiplier
• C)the smaller the value of the spending multiplier
• D)the larger the impact of a shift in aggregate demand on the equilibrium price level
• E)the larger the impact of a shift in aggregate demand on the equilibrium output level

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Definitions:

Quota Sampling

A sampling method where the selection of participants is based on pre-specified characteristics or quotas to ensure representation.

Nonprobability Sampling

A sampling technique where the samples are gathered in a process that does not give all the individuals in the population equal chances of being selected.

Simple Random Sampling

A sampling method where each member of a population has an equal chance of being selected, minimizing bias in the sample collected.

Exit Polling

A survey of voters taken immediately after they have exited the polling stations, primarily used to predict election outcomes before the official count.