Over Time in a Growing Economy, the Long-Run Aggregate Supply

question 117

Multiple Choice

Over time in a growing economy, the long-run aggregate supply curve will

• A) become increasingly steep.
• B) shift rightward.
• C) become horizontal at the long-run potential price level.
• D) shift leftward.

Interpret scatterplots, including form, direction, strength, and the addition of categorical variables.

Recognize the importance of having positive values for logarithmic transformations.

Describe relationships between variables using scatterplots, including identifying linear, quadratic, and cubic relationships.

Understand the concept of "direction" in scatterplots as it relates to positive and negative associations.

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