The aggregate supply curve
A) indicates the markup at which firms are willing to supply a given level of output
B) is derived from equilibrium conditions in the money market
C) has a positive slope because an increase in real GDP causes an increase in the cost of resources
D) is found by summing up the supply curves of all the firms in an economy
E) illustrates how a change in the price level affects total output

Question

Quizplus · Accepted Answer

The Answer of The aggregate supply curve
A) indicates the markup at which firms are willing to supply a given level of output
B) is derived from equilibrium conditions in the money market
C) has a positive slope because an increase in real GDP causes an increase in the cost of resources
D) is found by summing up the supply curves of all the firms in an economy
E) illustrates how a change in the price level affects total output

The Aggregate Supply Curve