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Quantity of real gdp supplied

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Reference no: EM131406842

Complete the following statements:

1) In the short run, when the price level increases, the quantity of real GDP supplied will

a) decrease

b) increase

c) remain the same

and the aggregate supply curve will

a) decrease or shift to the left

b) increase or shift to the right

c) remain the same or not shift

2). In the short run, some input prices are said to be sticky. Sticky prices refers to

a) Some firms not being able to change the price that the firms charges

b) Some input prices remaining constant even as the price level changes

c) All prices remain constant in the economy

Reference no: EM131406842

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