Which One of the Following Statements Is TRUE

question 51

Multiple Choice

Which one of the following statements is TRUE?

• A) The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that domestic workers are harmed by imports.
• B) The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that there is no correlation between the level of real GDP and the employment level.
• C) The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that increases in aggregate demand can boost output in the short term.
• D) The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that increases in aggregate demand will increase the price level, but will leave real GDP unaffected in the short term.

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Definitions:

Revocation

The act of withdrawing, canceling, or repealing a statement, offer, or privilege, which can pertain to legal contracts, licenses, or wills.

Acceptance

In contract law, the agreement by a party to the terms of an offer, forming a contract.

Capacity

In legal terms, the ability to understand the nature and effects of one's actions, specifically in forming contracts or executing wills.

Assignable

Refers to the capability of transferring rights or interests in a contract or financial instrument to another party.