Answer to Question 1
The short-run aggregate supply curve slopes upward because as the prices of final goods and services rise, the prices of inputs rise more slowly. The higher price level increases profits and the willingness of firms to supply more goods and services. A secondary reason the SRAS slopes upward is that, as the price level rises, some firms are slow to adjust their prices. A firm that raises its prices slowly when the price level increases may find that its sales increase and therefore will increase production.
Answer to Question 2
B
The characteristically small and relatively short-legged reindeer from Svalbard
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Oxygen dissociation curve
Slope Question
A bell-shaped, or “normal,” curve shows the distribution of phenotypes for traits controlled by ...
Construct a Lorenz curve that shows income distribution in this society.