Moving Along the Aggregate Supply Curve

question 207

Multiple Choice

Moving along the aggregate supply curve,

• A)the quantity of capital used increases.
• B)only the price level changes.
• C)technology advances.
• D)the stock of human capital increases.
• E)the real wage rate is constant.

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Definitions:

Interest Rate

The percentage of a loan amount charged by the lender to the borrower for the use of assets, typically expressed on an annual basis.

Face Value

The nominal or dollar value printed on a financial instrument, such as a bond or stock certificate, representing its legal value.

Promissory Note

A financial document in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms.

Accounts Receivable

Amounts owed to a business by its customers for goods or services delivered or used but not yet paid for.