« previous next »

Author Question: Why does the short-run aggregate supply curve slope upward? What will be an ideal ... (Read 90 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jun 29, 2018
Why does the short-run aggregate supply curve slope upward?
 
  What will be an ideal response?

Question 2

When calculating GDP, the Bureau of Economic Analysis revises its quarterly data
 
  A) a total of one time. B) many times over the next several years.
  C) a total of three times. D) a total of two times.


nital

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Beheh

  • Hero Member
  • *****
  • Posts: 520
Reply #2 on: Jun 29, 2018
Correct answers!


nital

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Upward transport of water in xylem. Upward transport of water in xylem.
Red-bellied short-necked turtle Red-bellied short-necked turtle
The age-dependent curve of salivary progresterone levels in three populations. The age-dependent curve of salivary progresterone levels in three populations.
Cultures Ideal Body Types Cultures Ideal Body Types
An upward-sloping spark line usually indicates a mechanical engine problem or a lean air–fuel ... An upward-sloping spark line usually indicates a mechanical engine problem or a lean air–fuel ...
Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus). Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus).
Video: Simple Diffusion - gases and nonpolar compounds transport

For a complete list of videos, visit our video library