7. Which of the following statements is false? &a. The long-run aggregate supply curve can shift to...

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7. Which of the following statements is false?

&a. The long-run aggregate supply curve can shift to the right if new technologies are developed.

&b.The long-run aggregate supply curve can shift to the left if the quality of the factors of production decreases.

&c. The long-run aggregate supply curve is fixed at potential output and cannot shift.

&d.An increase in long-run aggregate supply will decrease the equilibrium price level.
&e. A decrease in long-run aggregate supply will decrease the equilibrium level of real GDP.

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Fundamentals Of Economics

ISBN: 9781133956105,9781285531847

6th Edition

Authors: William Boyes, Michael Melvin

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Question Posted: Nov 13, 2024 01:00 AM

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Fundamentals Of Economics

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