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

Question

Quizplus · Accepted Answer

The short-run aggregate supply function shows the planned production of goods and services at different price levels. It is a graphical representation of the relationship between price levels and planned output by firms in the short run. It is an upward sloping curve that shows how the quantity of goods and services supplied changes as the price level changes.

The ________ Function Plots Planned Production Against the Price Level