A. One reason the short-run aggregate-supply curve slopes upward is that a higher price level
a. raises nominal wages if real wages are sticky.
b. reduces nominal wages if real wages are sticky.
c. raises real wages if nominal wages are sticky.
d. reduces real wages if nominal wages are sticky.
B. A change in which of the following would shift the short-run aggregate-supply curve but not the longrun aggregate-supply curve?
a. the labor force
b. the capital stock
c. the state of technology
d. the expected price level
C. A sudden increase in business pessimism shifts the aggregate-_________ curve, leading to _________ output.
a. supply; lower
b. supply; higher
c. demand; lower
d. demand; higher
D. A n increase in the aggregate demand for goods and services has a larger impact on output _________ and a larger impact on the price level _________.
a. in the short run; in the long run
b. in the long run; in the short run
c. in the short run; also in the short run
d. in the long run; also in the long run
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