Question 1
The quantity of output supplied at ________ is represented by the aggregate supply curve.
◦ varying interest rates
◦ a constant money supply
◦ different price levels
◦ various levels of GDP
Question 2
When the aggregate supply curve is ________ the price of factors of production is fixed, with little or no upward pressure on price.
◦ horizontal
◦ vertical
◦ upward sloping
◦ downward sloping