An upward-sloping short-run aggregate-supply curve is represented by which of the following equations?

a) Quantity of output supplied = Natural level of output + a(Actual price level + Expected price level)
b) Quantity of output supplied = Natural level of output - a(Actual price level - Expected price level)
c) Quantity of output supplied = a(Natural level of output) + (Actual price level - Expected price level)
d) Quantity of output supplied = Natural level of output + a(Actual price level - Expected price level)


Ans: d) Quantity of output supplied = Natural level of output + a(Actual price level - Expected price level)

Economics

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Economics