In the Short Run,the Aggregate Supply Curve Has a Positive

question 12

Multiple Choice

In the short run,the aggregate supply curve has a positive slope because,as the price level rises,producers can

• A)accumulate inventories.
• B)charge a higher price sufficient to cover their higher unit costs.
• C)experience rising factor prices.
• D)produce less in response to falling profits.
• E)increase output at unchanged unit costs.

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Definitions:

American Census

A decennial survey conducted by the United States Census Bureau to collect demographic, economic, and social data on the American population.

Participant Observation

A research method where the researcher immerses themselves in a group or community to observe behaviors and interactions from within.

Hawthorne Effect

The phenomenon where individuals alter their behavior in response to their awareness of being observed.