Aggregate Supply

Problem : What relationship does the aggregate supply curve show?

Problem : What is the equation for the aggregate supply curve in the short run?

Problem : What does each of the terms mean in the equation for the short-term aggregate supply curve and what does the equation mean overall?

Problem : What is the slope of both the short run aggregate supply curve and of the long run aggregate supply curve?

Problem : Give one reason for why the long-term aggregate supply curve is vertical and four models for why the short-term aggregate supply curve is upward sloping.