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32. Which of the following statements is true? a The aggregate supply curve shows the value of real GDP at different price levels. b The

32. Which of the following statements is true?

a

The aggregate supply curve shows the value of real GDP at different price levels.

b

The shape of the aggregate supply curve is determined on the basis of whether input prices and output prices are fixed or flexible.

c

In the very short-run, both input prices and output prices are fixed.

d

All of the above.

e

Only a) and b)

31. Which of the following statements is true?

a

Imported resources add to domestic supplies and act to reduce per-unit production costs, which increases aggregate supply.

b

A decrease in the price of imported resources, such as oil, increases per-unit production costs, which then decreases aggregate supply.

c

Exchange rate fluctuations can cause changes in per-unit costs.

d

All of the above.

e

Only a) and c)

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