Which of the following best describes a key difference between the short-run and long-run aggregate supply curve?
(A)Short-run aggregate supply is upward sloping as nominal wages quickly respond to price level changes. (B)Long-run aggregate supply is upward sloping as nominal wages quickly respond to price level changes. (C)Short-run aggregate supply is vertical as nominal wages quickly respond to price level changes. (D)Short-run aggregate supply is upward sloping as nominal wages do not quickly respond to price level changes.
D