Increased use of current inputs in the production process is the short-term response of aggregate supply to rising demand (and prices).
A company can't, for the short term, build a new factory or introduce new technology to boost production efficiency because the level of capital is fixed.
What is short run and long run aggregate supply?
The intersection of the economy's aggregate demand and long-run aggregate supply curves determines its equilibrium real GDP and price level in the long run. The short-run aggregate supply curve is an upward-sloping curve that shows the quantity of total output that will be produced at each price level in the short run.
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The opportunity cost of holding money is the interest forgone on an alternative asset.
<h3>What is
asset?</h3>
An asset is any resource held or controlled by a business or economic entity in financial accounting. It is anything that has the potential to provide positive economic value. Assets represent ownership value that may be transformed into cash.
A business asset is something that has current or future economic worth to the company. In essence, assets for businesses encompass anything controlled and held by the company that is today valuable or has the potential to give monetary advantage in the future. Patents, machines, and investments are some examples.
Depreciation is the systematic distribution of an asset's depreciable amount throughout its useful life. The depreciable amount of an asset is equal to the asset's cost or another number substituted for cost, less its residual value.
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Answer:
He was a Democrat and he was also a major leader in the progressive health reform
Considering the available options, the coverage that makes the most sense to eliminate is the "<u>Collision</u><u> coverage, because their car is quite old and the </u><u>deductible</u><u> is relatively high."</u>
<h3>What is Insurance Premium?</h3>
The insurance premium is the money by an individual or company to insure some specific properties. Insurance premium usually covers healthcare, auto, home, and life insurance.
However, one of the ways to reduce the mount paid on insurance premiums is to <em><u>reduce coverage on older cars.</u></em>
It is believed that if the car is worth less than 10 times the premium, paying for the coverage is not cost-effective.
Hence, in this case, it is concluded that the correct answer is option A. <u>"</u><u>Collision</u><u> coverage because their car is quite old and the </u><u>deductible</u><u> is relatively </u><u>high</u><u>."</u>
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