Answer the following questions:

Worksheet 18.4: Aggregate Supply 1. For review, list the factors that affect short run AS: 2. Relate the concept of short run and long run costs to the short and long run AS. 3. In the long run, the aggregate supply curve: . slopes upward and to the right B. slopes downward and to the right C. is the same as the short run aggregate supply curve D. E. > is vertical is horizontal 4. Wages and other resource prices in the short-run AS curve: . will rise and fall following the ups and downs of the price level. B. will rise and fall more rapidly than the price level. C. are exible up but inexible down. D. E. :b are inexible up but not down. tend to be sticky. 5. Draw a correctly labeled short run and long run Aggregate Supply graph