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

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

Quizplus · Accepted Answer

The long-run aggregate supply curve is vertical because it represents a time period in which input prices have fully adjusted to changes in the price level, and output is determined by factors such as technology and resources, not by the price level.

The Slope of the Long-Run Aggregate Supply Curve Is