The Aggregate Supply Curve Slopes

question 48

Multiple Choice

The aggregate supply curve slopes:

• A)downward because firms can sell more, and hence, will produce more when prices are lower.
• B)downward because firms find it costs less to purchase labor and other inputs when prices are lower and hence, they produce more.
• C)upward because firms normally can purchase some labor and other inputs at fixed costs for some period of time.
• D)upward because firms find that it costs more to purchase labor and other inputs when prices are higher and hence they must produce and sell more in order to make a profit.

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Definitions:

Long Delays

Extended periods of waiting time beyond the expected or scheduled, often causing inconvenience or impacting plans.

Necessary

Essential items or actions required for a specific purpose or to achieve a certain outcome.

Examination for Discovery

A pre-trial process in litigation where parties to a lawsuit are interrogated under oath by the opposing lawyer to discover facts relevant to the case.

Examination for Discovery

A legal proceeding in which a party to a lawsuit has the opportunity to question the opposing party or witness under oath before trial, to discover facts and gather evidence.