Question

How does the slope of the AS curve affect the closure of the GDP gap?

Answer 1

Analogously, the concept of aggregate supply does not refer to a fixed number, but rather to a schedule (a supply curve). The volume of goods and services that profit-seeking enterprises will provide depends on the prices they obtain for their outputs, on wages and other production costs, on the state of technology, and on other things.

Source: http://www.chacha.com/question/how-does-the-slope-of-the-as-curve-affect-the-closure-of-the-gdp-gap

Answer 2

QH question in a dead subject ;-;