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AP Macroeconomics
Unit 3 – National Income and Price Determination
Topic 3.3
Which of the following best describes the concept of Short-Run Aggregate Supply (SRAS)?
The total output that an economy can produce in the long run, regardless of the price level
The aggregate demand for goods and services in an economy at a given price level during a specific time period
All goods and services that firms are willing and able to produce at various price levels
The relationship between the price level and the quantity of goods and services supplied in the long run
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AP Macroeconomics - 3.3 Short-Run Aggregate Supply (SRAS)
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Short-run Aggregate Supply (SRAS)
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