The short-run aggregate supply curve is upsloping because higher price levels Multiple Choice encourage importation of foreign goods. lower interest rates and encourage firms to invest and produce more. create an expectation among producers of still higher price levels. create incentives to expand output when resource prices are unresponsive to price-level changes.

Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.