The Positively Sloped Short-Run Aggregate Supply Curve Reflects the Assumption

question 20

Multiple Choice

The positively sloped short-run aggregate supply curve reflects the assumption that factor prices are

• A)more flexible than output prices.
• B)less flexible than output prices.
• C)fixed in the long run.
• D)perfectly flexible in both the short run and the long run.

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Definitions:

Debris Flow

A rapid downhill movement of a mixture of water, soil, and rock debris.

Geology Setting

The physical, chemical, and biological conditions that characterize a particular area or environment where geological processes occur.

Slope Failure

A phenomenon where a slope collapses due to gravity and other factors such as water saturation, leading to landslides.

Steepness

The measure of how sharp or incline a slope or angle is.