The Long- Run Aggregate Supply Curve Is Vertical Because

question 74

Multiple Choice

The long- run aggregate supply curve is vertical because:

• A) prices are sticky in the long run.
• B) the labor market is always in shortage.
• C) wages are flexible and they always change quickly to clear the labor market.
• D) unemployment exists.

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Definitions:

Exchange

In sociology, it refers to the act of trading goods, services, or favors between individuals or groups, often aiming for mutual benefit.

Economic Activity

Any actions that involve the production, distribution, and consumption of goods and services.

Sectors

Distinct parts of an economy or society, such as the public, private, and voluntary sectors, each with its specific characteristics and functions.

Tertiary

Referring to the third level or stage, often used in education (tertiary education) and economic sectors (tertiary sector or services sector).