The real wealth effect explains why the aggregate supply curve is horizontal in the long run.
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Q207: A decrease in the price level raises
Q208: 11.5 The Long-Run AS Curve
Refer to the
Q209: The level of aggregate output that can
Q210: Refer to the information provided in Figure
Q211: 11.5 The Long-Run AS Curve
Refer to the
Q213: 11.5 The Long-Run AS Curve
Refer to the
Q214: Refer to the information provided in Figure
Q215: The long-run aggregate supply curve is vertical
Q216: If _ equilibrium output _ , the
Q217: Other things being equal, the more wealth
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