Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 33 - Part XII - Aggregate Demand and Aggregate Supply - Quick Check Multiple Choice - Page 742: 3

Answer

b) Short run aggregate supply, but not long run aggregate supply

Work Step by Step

In the long run, shifts of the aggregate supply curve depend on a nation's labour, capital, natural resources and technology, not changes in the overall price level. In the short-run, changes in the price level will temporarily shift the aggregate supply curve.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.

GradeSaver will pay $15 for your literature essays
GradeSaver will pay $25 for your college application essays
GradeSaver will pay $50 for your graduate school essays – Law, Business, or Medical
GradeSaver will pay $10 for your Community Note contributions
GradeSaver will pay $500 for your Textbook Answer contributions