Which of the Following Statements Is True Regarding the Long-Run

question 45

Multiple Choice

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve

• A) is vertical because an equal change in all prices and wages leaves output unaffected.
• B) is positively sloped because price expectations and wages tend to be fixed in the long run.
• C) shifts right when the government raises the minimum wage.
• D) shifts left when the natural rate of unemployment falls.

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