The aggregate supply curve in the very short run is most likely: 1. Upward-sloping because wages...
The aggregate supply curve in the very short run is most likely:
1. Upward-sloping because wages and prices of other inputs do not fully adjust to changes in the price level.
2. Flat because output can be adjusted to a certain degree without a corresponding change in prices.
3. Vertical because wages and prices of other inputs fully adjust to changes in the price level.
Homework Answers
Ans) the correct option is 1) Upward-sloping because wages and prices of other inputs do not fully adjust to changes in the price level
The short-run aggregate supply curve is upward sloping because the quantity supplied increases when the price rises.
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The aggregate supply curve in the very short run is most
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