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A defining characteristic of the short-run aggregate supply curve (SRAS) is: a. a fixed CPI market basket. b. perfect knowledge of workers. c. the upward-sloping
A defining characteristic of the short-run aggregate supply curve (SRAS) is: a. a fixed CPI market basket. b. perfect knowledge of workers. c. the upward-sloping production function. d. fixed-wage contracts.In the upward-sloping segment of the aggregate supply curve, a. producers can hire more workers without having to raise the wage rate. b. the economy can increase aggregate supply without prices going up. c. increases in output are linked to decreases in the price level. d. firms are willing to pay higher wages to get more labor
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