Explain why the short-run aggregate supply curve is a relatively flat, horizontal line.
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Q148: Adjustments in _ take the economy from
Q149: If potential output exceeds actual output, the
Q150: During an economic boom, output exceeds potential
Q151: Name a supply shock that has affected
Q152: What are supply shocks? Explain what effect
Q154: During an economic boom
A) actual output exceeds
Q155: Adverse supply shocks can cause a recession
Q156: Aggregate demand and aggregate supply must be
Q157: In the long run, output is determined
Q158: Describe how adjustments in wages and prices
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