1. The aggregate supply curve depicts the relationship between:A) the

1. The aggregate supply curve depicts the relationship between:A) the unemployment rate and the total quantity of goods and services that firms supply.B) the cost of labor and the total quantity of goods and services that firms supply.C) the cost of inputs and the total quantity of goods and services that firms supply.D) the level of prices and the total quantity of goods and services that firms supply.2. In the long run, output is determined by:A) the size of the capital stock.B) the size of the labor force.C) the state of technology.D) all of the above.3. When output exceeds the full employment level of output, we expect that the:A) wages and prices increase as the long-run aggregate supply curve shifts downward over time.B) wages and prices increase as the short-run aggregate supply curve shifts upward over time.C) wages and prices increase as the long-run aggregate supply curve shifts upward over time.D) wages and prices decrease as the short-run aggregate supply curve shifts downward over time.

3 Simple steps to get your paper done

Step 1

Step 2

Step 3

Place Order Down to work Paper is Ready!

Takes just a few minutes!

Best writer takes the order

Access via your account