In the Upward-Sloping Segment of the Aggregate Supply Curve

question 49

Multiple Choice

In the upward-sloping segment of the aggregate supply curve:

• A) increases in output are linked to decreases in the price level.
• B) increasing prices drag down resource costs.
• C) producers can hire more workers without having to raise the wage rate.
• D) firms are willing to pay higher wages to get more labour.

---

Definitions:

Economic Cost

Cost to a firm of utilizing economic resources in production.

Sales Consulting

Professional services aimed at improving a company's sales processes, strategies, and performance.

Opportunity Cost

The missed opportunity for profit from other options when one option is selected.

Fully Depreciated

The state of an asset after its cost has been completely expensed or written off through depreciation, implying it has no book value.