The long-run aggregate supply curve is:
A) upward sloping.
B) downward sloping.
C) horizontal.
D) vertical.

Name: The long-run aggregate supply curve is: A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
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Question

Quizplus · Accepted Answer

The long-run aggregate supply curve is vertical because in the long run, prices and wages are flexible and can adjust to changes in the economy, resulting in full employment of resources and a constant level of potential output.

The Long-Run Aggregate Supply Curve Is