The Short-Run Aggregate Supply Curve Is Upward Sloping Because in the Short

question 259

Multiple Choice

The short-run aggregate supply curve is upward sloping because in the short run the

• A) money wage rate changes but the price level does not.
• B) price level changes but the money wage rate does not.
• C) both the money wage rate and the price level change.
• D) neither the money wage rate nor the price level can change.

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Definitions:

Common Factors

Numbers or expressions shared as factors by two or more numbers or algebraic expressions.

Factors

Numbers or expressions that divide into another number or expression exactly, without leaving a remainder.

Nearest Hundredth

A method of rounding numbers so that they are accurate to two decimal places.

Decimal Place

A position of a number to the right of the decimal point, indicating fractions of 10.