The aggregate supply curve shows the total quantity of output that firms are willing and able to supply at a given inflation rate.This is the same relationship that is shown by the
A) aggregate expenditure curve.
B) Phillips curve.
C) MP curve.
D) IS curve.

Question

Quizplus · Accepted Answer

The Phillips curve also shows the relationship between inflation and output, but from the perspective of the labor market. The other choices (aggregate expenditure curve, MP curve, IS curve) do not directly show the relationship between inflation and output.

The Aggregate Supply Curve Shows the Total Quantity of Output