5. Why the short-run aggregate supply curve slopes upward This graph shows the short-run aggregate supply curve (SRAS) of a hypothetical economy where the currency is the dollar. Last year, the economy was producing at point A. The price level was 135 and the quantity of real GDP supplied was $300 billion. This year, the economy is producing at point B. The price level has risen to 145 and the quantity of real GDP supplied has risen to $500 billion. Government officials are confused about why the quantity of output moved from point A to point B, and they ask you for help. First, they tell you that nominal wages were constant as the price level changed