The Long-Run Aggregate Supply Curve Is Vertical at the Level

question 21

True/False

The long-run aggregate supply curve is vertical at the level of real output that corresponds to the natural rate of employment.

---

Definitions:

Serum

Plasma minus fibrinogen and other clotting agents.

Plasma

The liquid component of blood that carries cells and proteins throughout the body, consisting mostly of water, electrolytes, and proteins.

Proteins

Large biomolecules consisting of one or more long chains of amino acid residues, crucial for the structure, function, and regulation of the body's tissues and organs.

Fibrinogen

A soluble plasma glycoprotein that is converted to fibrin in the blood clotting process, playing a key role in wound healing.