Multiple Choice
Which of the following is true of a long-run aggregate supply curve?
A) It is downward sloping when prices are falling and upward sloping when prices are rising.
B) It is upward sloping due to the effects of changes in the price level on production.
C) It is the same as the short-run aggregate supply curve at full-employment equilibrium.
D) It is vertical at the full employment level of output.
Correct Answer:
Verified
Correct Answer:
Verified
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