The Aggregate Supply Curve Shows

question 153

Multiple Choice

The aggregate supply curve shows

• A)the total of all planned production for an economy.
• B)the various quantities of goods consumers will purchase.
• C)that real GDP can only increase when the price level increases.
• D)what an economy can produce if resource prices are constant.

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Definitions:

Increased Employment

A situation or condition where the number of people who are employed grows, indicating economic growth or recovery.

Unemployment

The condition of being without paid employment, but actively seeking work.

Sociologists

Social scientists who study the development, structure, and functions of human society, and the relationships among individuals within those societies.

Power

The skill or potential to guide or shape the actions of others or steer the direction of events.