On the Long-Run Aggregate Supply Curve

question 122

Multiple Choice

On the long-run aggregate supply curve,

• A)an increase in the price level increases the aggregate quantity of GDP supplied.
• B)an increase in the price level reduces the aggregate quantity of GDP supplied.
• C)an increase in the price level has no effect on the aggregate quantity of GDP supplied.
• D)an increase in the price level increases the level of potential GDP.
• E)an increase in the price level increases the aggregate quantity GDP demanded.

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Definitions:

Operant Conditioning

A learning process derived from behaviorism theory, involving changes in behavior through the use of rewards or punishments.

Environmental Factors

External elements such as social, economic, and ecological conditions that can affect individuals or organizations.

External Stimuli

External stimuli refer to any factors originating from outside the individual that can affect one's thoughts, feelings, or behaviors.

Social Cognitive Theory

A theory that proposes that learning takes place through the observation, imitation, and the modeling of others within a social context.