The Steepness of the Aggregate Supply Curve Depends on The

question 35

Multiple Choice

The steepness of the aggregate supply curve depends on the:

• A)rate of inflation in the economy.
• B)change in relative prices of commodities.
• C)substitutability of the inputs used in producing various goods and services.
• D)ability of the producers to respond to price-level changes in the short run.
• E)the market rate of interest.

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Definitions:

Big Five

A theory that identifies five basic dimensions of personality: Openness, Conscientiousness, Extroversion, Agreeableness, and Neuroticism.

Cultures

The shared beliefs, values, customs, behaviors, and artifacts that members of society use to cope with their world and with one another, transmitted from generation to generation.

Extraversion

A personality trait marked by an orientation of one's interests and energies toward the outer world of people and activities, as opposed to introversion.

Agreeableness

A personality trait characterized by warmth, kindness, empathy, and a readiness to cooperate and avoid conflict with others.