Which of the following is FALSE?
A)the AS-curve is horizontal in the Keynesian case
B)the AS-curve is vertical in the classical case
C)the AS-curve is upward sloping in the medium run
D)the AS-curve is more price elastic in the long run than in the short run
E)none of the above

Question

Quizplus · Accepted Answer

In the long run, the AS-curve is typically vertical, indicating that it is not price elastic, as output is determined by factors like technology and resources, not prices.

Which of the Following Is FALSE