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CLEP Microeconomics Exam Prep

Category - Microeconomics

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The short term aggregate supply curve slopes upwards due to these reasons except:

Worker misperception
Market saturation
Imperfect information
Sticky wage

Explanation

Answer - B - Market saturation is not a reason for the short term aggregate supply curve to slope upwards.

Key Takeaway: An aggregate supply curve plots price level against product output. Since it slopes upwards, this means that as price levels increase, so do product outputs. Worker misperception, imperfect information, and sticky wages are all reasons for a short term aggregate supply curve to slope upwards.

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CLEP Microeconomics Exam Prep

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CLEP Microeconomics Exam Prep

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