In Constructing the Short-Run Aggregate Supply Curve,we Define the Short

question 135

Multiple Choice

In constructing the short-run aggregate supply curve,we define the short run as the period in which:

• A)the price level is constant.
• B)output is fixed.
• C)profit is constant.
• D)the costs of some resources are fixed.
• E)the economic growth rate is less than 4 percent.

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Definitions:

Indoor Management Rule

A legal principle that protects third parties who enter into contracts with a company, assuming the company's internal rules and procedures have been followed.

Shareholders' Resolution

A formal decision or expression of opinion passed by the shareholders of a company, often related to its management or policies.

Coffee Import Business

The business activity of bringing coffee from foreign countries into one's own country for sale and distribution.

Indoor Management Rule

A legal principle allowing outsiders dealing with a company to assume that internal company rules have been properly followed.