Multiple Choice
The long-run aggregate supply curve represents:
A) potential output in the economy.
B) the level of output possible if the economy is operating at full capacity.
C) a production function for the entire economy.
D) All of these are true.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: In the long run, aggregate supply:<br>A) is
Q3: Widespread adoption of mobile phones over the
Q4: Consumption spending is _ the overall price
Q5: A rise in the overall price level
Q6: Sticky wages occur because:<br>A) the government intervenes
Q7: Suppose the BLS announces that price levels
Q8: Government spending tends to:<br>A) increase when the
Q9: The long-run aggregate supply curve would shift
Q10: Higher interest rates:<br>A) make it more expensive
Q11: Which of the following would likely cause