Given implicit or explicit resource price agreements,if the actual price level is below the expected price level,the:

A) economy will move rightward along the short-run aggregate supply curve.
B) economy will move leftward along the short-run aggregate supply curve.
C) short-run aggregate supply curve will shift to the left.
D) long-run aggregate supply curve will become steeper.
E) short-run aggregate supply curve will become flatter.

Aggregate Supply Curve

A graphical representation that shows the total quantity of goods and services that producers in an economy are willing and able to supply at different price levels.

Price Level

A measure of the average prices of goods and services in an economy, indicating the cost of living and inflation rates.

Explicit Resource Price

The monetary value that is directly paid for the use of a resource or asset, such as wages for labor or rent for land.