1. Aggregate supply denitions The shortrun aggregate supply curve shows: 0 what happens to output in an economy as the actual price level changes, holding all other determinants of real GDP constant 0 The relationship between the price level and aggregate expenditure 0 How rms respond to changes in interest rates 0 what happens to output in an economy when the government spends more money which of the following are assumed to remain unchanged along a given shortrun aggregate supply curve? Check all that apply. C] Real GDP C] Instutlons, such as patent laws and tax systems, that make up the "rules of the game" C] The position of the aggregate demand curve C] Input prices The term natural rate oi unemployment refers to: O The unemployment 'd'iat arises clue to purely seasonal factors, such as unemployed lifeguards in the winter 0 The unemployment rate that would occur if there were no fliclional unemployment O The unemployment rate that occurs when an economy's real GDP is equal to its potential output 0 The minimum possible unemployment rate for an economy Compiete the foliowing table by matching each denition to the appropriate economic time frame. Denition Short Run Long Run A period of time in which some input prices and wages are xed 0 O A period of time long enough for all input plices and wages to be renegotiated O O