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A vertical long-run aggregate supply curve indicates that an increase in the price level will not expand an economy'soutput capacity in the long run. outputs
A vertical long-run aggregate supply curve indicates that
an increase in the price level will not expand an economy'soutput capacity in the long run. |
outputs greater than the long-run supply constraint cannot beachieved. |
an increase in the price level will permit the economy toachieve a higher level of output. |
an increase in the price level will promote technological changeand more rapid economic growth. |
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