The intersection of the aggregate demand and aggregate supply curves determines:Multiple choice question.the long-run equilibrium price level and real GDPthe equilibrium price level and equilibrium real GDPthe equilibrium price level and equilibrium real interest ratethe equilibrium real interest rate and equilibrium real GDP

What does the short-run aggregate supply curve show?Group of answer choicesThe relationship between the price level and the quantity of real GDP suppliedThe relationship between the unemployment rate and real GDPThe desired level of national expenditure at different price levelsThe relationship between labour supplied and the average wage rate

Along the horizontal range of the aggregate supply curve, an increase in the aggregate demand curve will increase:Group of answer choicesboth the price level and real GDP.only real GDP.only the price level.real GDP and reduce the price level.

which of the following is true about the long-run aggregate supply curve?it is vertical at the level of potential gdpit does not shift in response to temporary changes in aggregate demandit shows the relationship between the price level and real gdp when wages and other costs are at an equilibrium level.all the above

The upward sloping segment of the aggregate supply curve is where:Question 35Select one:a.substantial growth of real GDP can be produced without any increase in the price level (inflation).b.increased price levels result in a corresponding increased real output in the economy.c.price levels (inflation) can rise without increases in real output in the economy.d.is when all available labor resources are being used in the most efficient way possible.e.no growth of real GDP can be produced even with increases in the price levels.

Multiple Choice QuestionWhich of the following statements about short-run aggregate supply is the most accurate?Multiple choice question.It is not affected in any manner by the price level.It reflects how much real GDP will be produced given various economic growth rates.It shows how much real GDP suppliers are willing and able to produce at different price levels.It is downward sloping because of the interest rate effect.