Multiple Choice
Which of the following is false?
A) In long-run equilibrium, all prices, including wages, have fully adjusted to changes in aggregate demand or aggregate supply.
B) The real wage is the nominal wage divided by the overall price level.
C) The aggregate supply curve is always upward sloping.
D) The aggregate demand curve is always downward sloping.
Correct Answer:
Verified
Correct Answer:
Verified
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