Short Run Equilibrium Output
1 Board Economics previous year questions on Short Run Equilibrium Output — options free on every question; 1 include the answer & explanation free, the rest unlock with PYQ Pass.
Q1 FREE PREVIEW
PYQUnder the Keynesian theory, the Aggregate Supply curve is a straight line through the origin drawn at an angle of __________.
(Choose the correct option to fill in the blank)
✓ Correct answer: b)
45
Explanation
In the Keynesian short-run model with unused resources and fixed prices, the aggregate supply curve is represented by a 45-degree line through the origin, implying that output will adjust to meet demand.
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