When the price level rises from 110 to 115, the aggregate level of GDP supplied rises from $80 billion to $120 billion
This ________ relationship represents the ________ relationship between the quantity of real GDP firms are willing to supply and the price level.
A) positive; short-run B) negative; short-run
C) positive; long-run D) negative; long-run
A
Economics
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People who buy futures on the commodity market are
A) increasing, not reducing, their personal risk. B) reducing, not increasing, their personal risk. C) either reducing or increasing their personal risk, depending on the circumstances. D) creating added risk for others in society. E) showing they are essentially indifferent to risk.
Economics
Refer to the table above. Spain has comparative advantage in
A) grapes. B) textiles. C) both grapes and textiles. D) neither grapes nor textiles.
Economics