Respuesta :
Along an aggregate supply curve, if the level of output is less than the natural level of output, then the price level is: Less than the expected price level.
What is Natural Level of Output?
The term natural level of output is a macroeconomic concept that occurs in an economy when there is a full and efficient utilization of all available resources. It is also known as the full employment level.
What is Aggregate Supply Curve ?
The aggregate supply curve is an economic graph that indicates how many goods and services an economy’s firms are willing and able to produce in a given period.
The Aggregate Supply Curve is the sum of all the supply curves for individual goods and services. Therefore, as the individual Aggregate Supply Curve, it represents a direct relationship between the price and the quantity supplied.
In the long-term, the Aggregate Supply Curve is perfectly vertical because it represents an economy’s potential output with full employment of an economy’s resources. In the short-term, the Aggregate Supply Curve is upward sloping because as the prices increase, and so do the costs. The Aggregate Supply Curve is shifts when a change in supply, working capital, natural resources, or occurs.
Therefore, we can conclude The correct option is B. Less than the expected price level.
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