Final answer:
True, the short-run aggregate supply curve (SRAS) becomes steeper as the economy moves along it upward and to the right, due to approaching full capacity at which point resources are fully utilized and additional output becomes increasingly difficult.
Step-by-step explanation:
The statement that the short-run aggregate supply curve (SRAS) becomes steeper as the economy moves rightward and upward along it is true. The SRAS curve slopes upward because when the price level for outputs increases, while the price of inputs remains fixed, firms are incentivized to produce more due to the opportunity for additional profits. However, as the economy approaches its potential GDP or full-employment GDP, where all inputs of labor and machinery are fully employed, the SRAS curve becomes nearly vertical. At this point, even higher prices for outputs cannot encourage additional output, because the resources are fully utilized, and no more production can take place. This phenomenon reflects the increasing difficulty of increasing output as the economy reaches and tries to exceed its capacity or potential GDP.