The Aggregate Supply Curve Is

question 91

Multiple Choice

The aggregate supply curve is

• A)vertical in the long run and slopes upward in the short run.
• B)upward sloping in the long run and vertical in the short run.
• C)vertical in the short run and in the long run.
• D)upward sloping in the short run and in the long run.

---

Definitions:

11%

11% typically refers to an interest or annual rate, indicating that 11 percent of the principal amount will be paid in interest over a year.

Nominal Rate

The promoted or declared rate of interest on a loan or investment, excluding the impacts of compounding and inflation.

Compounded Monthly

Interest calculation method involving the addition of interest to the principal sum of a loan or deposit, repeated every month.

Compounded Semi-Annually

Interest calculation method where interest is added to the principal sum twice a year, leading to interest earnings on interest.