1. - In the framework of the aggregate-supply/aggregate-demand model, (i) Outline and appraise the rationales for the property of the short-run aggregate supply curve, that money price per unit of...

Extracted text: 1. - In the framework of the aggregate-supply/aggregate-demand model, (i) Outline and appraise the rationales for the property of the short-run aggregate supply curve, that money price per unit of output (the money price level) is a positive function of the level of aggregate supply. (ii) Outline the determinants of the long-run aggregate supply curve. (iii) Outline and appraise the mechanisms or forces via which the macro-economy might automatically gravitate to the long-run aggregate supply, without the assistance of macroeconomic policy, at least in the long run.