ECONOMICS
AGGREGATE SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the short run aggregate supply curve shows that with an increase in the price level, there’s an increase in the amount of output firms are willing to supply
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Yes, I understand this from the notes
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No, I don’t understand this from the notes
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No, I don’t understand this, as I have not read the notes
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None of the above
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Explanation:
Detailed explanation-1: -The upward-sloping aggregate supply curve-also known as the short run aggregate supply curve-shows the positive relationship between price level and real GDP in the short run.
Detailed explanation-2: -The Short-Run Aggregate Supply Curve (SRAS) The SRAS curve shows that as the price level increases and you move along the SRAS, the amount of real GDP that will be produced in an economy increases. An increase in the SRAS is shown as a shift to the right.
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