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23 December, 15:24

12. The equation: quantity of output supplied = natural rate of output + a (actual price level - expected price level), where a is a positive number, represents a. an upward-sloping short-run aggregate supply curve b. a vertical short-run aggregate supply curve c. a downward-sloping aggregate demand curve d. None of the above is correct.

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  1. 23 December, 15:46
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    Answer:a. an upward-sloping short-run aggregate supply curve

    Explanation:

    variable a represent an upward sloping short run aggregate supply curve.

    The slope of the supply curve is positive which tells us that the quantity supplied has a positive relationship with Price. When price increases the quantity supplied will increase because the law of supply states that more quantity is supplied at a higher price
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