What is Aggregate Supply?
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The economy is in short-run equilibrium when:
A) aggregate demand intersects short-run aggregate supply.
B) short-run aggregate supply intersects long-run aggregate supply.
C) aggregate demand intersects long-run aggregate supply.
D) aggregate demand intersects both long-run and short-run aggregate supply.
E) the economy is at full employment output.
An increase in productivity will
A.increase aggregate demand.
B.increase aggregate supply.
C.increase aggregate supply and aggregate demand.
D.decrease aggregate supply and aggregate demand