Which of the following curves reflects the idea that in the long run, output is determined only by the factors of production and given technology?
A) the aggregate demand curve
B) the market supply curve
C) the long-run aggregate supply curve
D) the Keynesian aggregate supply curve

Question

Quizplus · Accepted Answer

The long-run aggregate supply curve reflects the idea that in the long run, output is determined by the factors of production and given technology, as it depicts the potential output of an economy when all factors of production are at their long-run levels. The other options, such as the aggregate demand curve and the Keynesian aggregate supply curve, are short-run curves that depend on factors such as consumer and investor behavior, while the market supply curve only reflects the quantity of goods that suppliers are willing to offer at different prices.

Which of the Following Curves Reflects the Idea That in the Long