What effect explains why the short-run aggregate supply curve is positively sloped?
A) the income effect
B) the misperception effect
C) the substitution effect
D) the market effect
Correct Answer:
Verified
Q4: What does the long-run aggregate supply relationship
Q5: How does the misperception effect explain why
Q6: When the price level rises,what happens to
Q7: How is the LRAS curve drawn?
A)as a
Q8: What is the typical response of firms
Q10: If the price level rises,what happens to
Q11: Which of the following best describes the
Q12: Which of the following statements about short-run
Q13: Which of the following statements about the
Q14: When referring to the aggregate supply curve,what
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