In the Simple Macro Model of This Chapter, the Long-Run

question 20

Multiple Choice

In the simple macro model of this chapter, the long-run AS-curve is

• A)horizontal
• B)vertical
• C)upward-sloping
• D)assumed to be completely price elastic
• E)either B or C, depending on how fast prices adjust

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Definitions:

American Literature

Literary work produced in the United States or by American writers, encompassing a wide range of genres and periods.

American Revolution

The conflict between Great Britain’s 13 American colonies and the colonial government, which led to the colonies’ gaining independence and forming the United States of America.

U.S. Literary Celebrity

An American author whose work has gained extensive public attention and fame, often resulting in their becoming a notable figure within the literary culture.

Washington Irving

An American author, essayist, biographer, and historian of the early 19th century known for works such as "The Legend of Sleepy Hollow" and "Rip Van Winkle."