Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In the long run, the aggregate supply curve is vertical because A. real output is not affected by the price level, and changes in aggregate
In the long run, the aggregate supply curve is vertical because
A. real output is not affected by the price level, and changes in aggregate demand will only affect output
B. prices are sticky, so changes in aggregate demand will only affect output.
C. prices are flexible, so changes in aggregate demand will affect both output and prices
D. real output is not affected by the price level, and changes in aggregate demand will only affect prices.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started