The short-run aggregate supply function plots ________ against the price level.
A)planned expenditures
B)total employment
C)planned production
D)real GDP

Question

Quizplus · Accepted Answer

Planned production is the amount of output that firms plan to produce at a given price level. The short-run aggregate supply function shows the relationship between the price level and the quantity of output that firms are willing and able to produce.

The Short-Run Aggregate Supply Function Plots ________ Against the Price