A vertical long-run aggregate supply curve indicates that
A) an increase in the price level will not expand an economy's output in the long run.
B) output rates greater than the long-run output rate are unattainable.
C) an increase in the price level will permit the economy to achieve a higher level of output.
D) an increase in the price level will increase technological change and economic growth.
E) the long-run aggregate supply curve never shifts.
Correct Answer:
Verified
Q2: Which one of the following newspaper quotations
Q3: Use the figure below to answer the
Q4: Suppose there is an increase in the
Q5: Which of the following does not change
Q6: Which one of the following newspaper quotations
Q7: Potential GDP is the level of real
Q8: Which one of the following newspaper quotations
Q9: Potential GDP
A)increases as the price level rises.
B)is
Q10: The long-run aggregate supply curve is vertical
Q11: If the money wage rate falls, then
A)the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents