The aggregate supply curve is a(n) ________ curve because it represents the relationship between price level and the quantity of real GDP supplied, two items that are ________ correlated
A) upward-sloping; positively
B) vertical; not
C) upward-sloping; negatively
D) downward-sloping; negatively
E) downward-sloping; positively
A
Economics
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The market supply curve for any product:
a. always depends on the market demand for that product. b. depends on the general income level of the consumers in the market. c. is a summation of individual firms' supply curves. d. equals the total revenue generated through sale of the commodity. e. is affected by the prices of related products.
Economics
Increasing investment in the present means forgoing future consumption.
Indicate whether the statement is true or false
Economics