When the Price Level Rises,the Quantity of Real GDP Supplied

question 196

Multiple Choice

When the price level rises,the quantity of real GDP supplied ________ because ________.

• A)decreases;new businesses open
• B)increases;new businesses open
• C)decreases;businesses fail and have to shut their doors
• D)increases;AS curve shifts rightward
• E)increases;businesses fail and have to shut their doors

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Definitions:

Profit Maximization

The process or strategy of adjusting the production and sale of goods and services to achieve the highest possible profit.

Corporate Structure

The organizational design and operational hierarchy within a corporation that outlines roles, responsibilities, and relationships between different entities.

Corporate Deviance

Unlawful or unethical behavior committed by businesses, often hidden from public view, to increase profit or market dominance.

Employee Theft

The act of stealing goods, money, or time (such as falsifying work hours) from an employer.