If the aggregate supply curve is vertical in the long run, then
A) monetary policy but not fiscal policy has an effect on aggregate output in the long run.
B) neither monetary nor fiscal policy has any effect on aggregate output in the long run.
C) contractionary policies but not expansionary policies have an effect on aggregate output in the long run.
D) fiscal policy but not monetary policy has an effect on aggregate output in the long run.
Correct Answer:
Verified
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