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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Definitions:

Type A Personality

A personality type characterized by competitiveness, urgency, aggressiveness, and a constant feeling of being under time pressure.

Antisocial Personality

A personality disorder characterized by a long term pattern of disregard for, or violation of, the rights of others.

Borderline Personality

A mental disorder characterized by unstable moods, behavior, and relationships.

Impossible Deadlines

Timeframes for completing tasks or objectives that are unrealistic and unattainable, often leading to stress and frustration.