23.
Which of the following would cause the short-run aggregate supply curve to shift to the left?
An increase in productivity.
A decrease in nominal wages.
An increase in commodity prices.
All of the following would cause the short-run aggregate supply curve to shift left.
2.
True or False. AEPlanned , also called the planned aggregate spending line, is equal to the consumption function plus planned investment spending.
True.
False.
3.
Which statement regarding Area A on the Business Cycle graph is true?
Area A is the highest point of employment or production before expansion occurs.
Area A is a peak.
Area A follows an expansion.
All statements are true regarding Area A.