Multiple Choice
We distinguish between the long-run aggregate supply curve and the short-run aggregate supply curve.In the long run
A) technology is fixed but not in the short run.
B) the price level is constant but in the short run it fluctuates.
C) the aggregate supply curve is horizontal while in the short run it is upward sloping.
D) all adjustments to changes in the price level have been made,but in the short run all changes in the price level cannot be made.
Correct Answer:

Verified
Correct Answer:
Verified
Q84: If the price level kept decreasing,the short-run
Q85: The price level is measured on the
Q86: If the price level kept increasing,the short-run
Q87: _ will be associated with a constant
Q89: Figure 8-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4981/.jpg" alt="Figure 8-3
Q90: Demand-pull inflation occurs when<br>A)increases in aggregate demand
Q91: A recessionary gap is commonly referred to
Q92: At a point along the SRAS curve
Q93: Economic growth will not result in inflation
Q273: The long-run aggregate supply curve will shift