Problem
Draw a short-run aggregate supply curve that gets steeper as real GDP rises.
a. Explain why the curve has this shape.
b. Now draw a long-run aggregate supply curve that intersects a short-run AS curve. What is the rel tionship between short-run AS and long-run AS?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.