Aggregate Supply and Factor Prices Quiz
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Questions and Answers

How will an increase in factor prices affect the aggregate supply?

  • Fluctuate
  • Remain unchanged
  • Increase
  • Decrease (correct)
  • What is the expected change in long run aggregate supply when factor prices increase?

  • Fluctuate
  • Remain unchanged (correct)
  • Decrease
  • Increase
  • What happens to the long run aggregate supply when factor prices increase?

  • Remain unchanged (correct)
  • Decrease
  • Increase
  • Fluctuate
  • How does an increase in factor prices impact the aggregate supply in the long run?

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