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In the long run, real output is determined by the LRAS curve while the price level is determined by the position of the AD curve
In the long run, real output is determined by the LRAS curve while the price level is determined by the position of the AD curve because: d. The LRAS curve is horizontal b. The intermediate rage of the AS curve is upward sloping c. The LRAS is vertical a. The long-run AD curve is downward sloping
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
