Along a given short run macro aggregate supply curve a lower price level is associated with a lower amount of aggregate output because ______________________________________. Group of answer choices the aggregate supply curve is vertical in the short run wages and interest rates are relatively fixed in the short run wages change in the short run but not in the long run the interest rate is higher in the short run than in the long run
Along a given short run macro aggregate supply curve a lower price level is associated with a lower amount of aggregate output because ______________________________________. Group of answer choices the aggregate supply curve is vertical in the short run wages and interest rates are relatively fixed in the short run wages change in the short run but not in the long run the interest rate is higher in the short run than in the long run
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Along a given short run macro aggregate supply curve a lower price level is associated with a lower amount of aggregate output because ______________________________________.
Group of answer choices
the aggregate supply curve is vertical in the short run
wages and interest rates are relatively fixed in the short run
wages change in the short run but not in the long run
the interest rate is higher in the short run than in the long run
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