The long-run supply curve illustrates how the aggregate output supplied is _____ the aggregate price level.
A) positively related to
B) negatively related to
C) unrelated to
D) a one-to-one correspondence with

Question

Quizplus · Accepted Answer

The long-run supply curve is vertical, indicating that the aggregate output supplied is unrelated to the aggregate price level. This reflects the classical view that in the long run, output is determined by factors such as technology and resources, not by the price level.

The Long-Run Supply Curve Illustrates How the Aggregate Output Supplied