The short-run aggregate supply curve represents the relationship between the ________ and the real output of goods and services in the economy without full adjustment or full information.
A)price level
B)inflation rate
C)budget balance
D)exchange rate

Question

Quizplus · Accepted Answer

The short-run aggregate supply curve represents the relationship between the price level and the real output of goods and services in the economy without full adjustment or full information. This means that in the short run, producers may not be able to fully adjust their production levels or prices in response to changes in the economy, resulting in a curve that shows a positive relationship between the price level and output.

The Short-Run Aggregate Supply Curve Represents the Relationship Between the ________