Explain the Effect on Output and Price Level from an Increase

question 31

Essay

Explain the effect on output and price level from an increase in the short-run aggregate-supply curve.

---

Definitions:

Subjunctive Verbs

Refers to a verb mood used to express various states of unreality such as wish, emotion, possibility, judgement, opinion, necessity, or action that has not yet occurred.

Intrinsic Reward

A type of motivation that comes from within an individual, driven by personal satisfaction or the joy of doing something.

Commendable Work

Actions, efforts, or results deserving praise or recognition for quality or achievement.

Product

An item or substance that is manufactured or refined for sale.