Multiple Choice
If increased inflation exceeds forecast inflation in the short run but NOT in the long run,what are the shapes of the aggregate supply curves?
A) AS is upward sloping in the short run and vertical in the long run.
B) AS is vertical in the short run and in the long run.
C) AS is vertical in the short run, and upward sloping in the long run.
D) AS is upward sloping in the short run and horizontal in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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