Question
A vertical long-run aggregate supply curve indicates... a. an increase in the price level will not expand an economy's output in the long run. b.
A vertical long-run aggregate supply curve indicates...
a. an increase in the price level will not expand an economy's output in the long run.
b. output rates greater than the long-run output rate cannot be reached.
c. an increase in the price level will promote technological change and hence economic growth.
d. the long-run aggregate supply curve never changes.
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Basic Econometrics
Authors: Damodar N. Gujrati, Dawn C. Porter
5th edition
73375772, 73375779, 978-0073375779
