11.   The supply curve represents the outcome of the income-leisure choices of individuals who are utility-maximizing.

12.   With different price levels it is possible to derive the level of output that will obtain and hence an aggregate supply curve is derived.

13.   The aggregate supply curve traced out by these short-run deviations from the equilibrium real wage is and has a positive slope.

14.   As noted above, there can be exceptions to the vertical aggregate supply curve when changes are unanticipated.

15.   Typically, the value of the uncompensated wage elasticity for males is small and negative, i.e. a mildly backward-bending aggregate labour supply curve.

16.   The equivalent value for women suggests a positively sloped aggregate labour supply curve.

17.   The supply curve from the partner country now reverts to PuSu and the partner supplies imports of BD to the home country.

18.   Clearly a variety of possibilities for import supply curves can exist.

19.   The demand curve for sterling will shift to the left and the supply curve will shift to the right until they intersect at the fixed rate of exchange.

20.   With the upward-sloping supply curve, higher demand leads to higher interest rates and higher supply.