FILL IN THE BLANK. aggregate supply curves are_for low levels of output, and_for high levels of output.

1 answer:

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For low levels of output, aggregate supply curves are comparatively flat; for high levels of output, they are comparatively steep.

<h3>What is aggregate supply? </h3>

The total amount of merchandise that businesses will produce and sell is known as aggregate supply, or real GDP. The positive association between price level and real GDP in the short run is demonstrated by the upward-sloping aggregate supply curve, also known as the short run aggregate supply curve.

Price, time, employer remuneration, technical breakthroughs, inflation and deflation, governmental rules, and the availability of resources are some of the variables that influence the aggregate supply curves.

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FILL IN THE BLANK. aggregate supply curves are___for low levels of output, and___for high levels of output.

FILL IN THE BLANK. aggregate supply curves are_for low levels of output, and_for high levels of output.