Which of the Following Is True of Aggregate Supply in the Long

question 142

Multiple Choice

Which of the following is true of aggregate supply in the long run?

• A)Nominal wages and output prices are both fixed.
• B)Nominal wages are fixed but output prices can vary.
• C)Output prices are fixed.
• D)Nominal wages are fully responsive to changes in the price level.

---

Definitions:

English Country Party

A political grouping in 17th-century England that advocated for the rights and privileges of the gentry and the aristocracy, often in opposition to the monarch and the court.

Patronage System

A system in which jobs, benefits, or favors are granted in exchange for political support or loyalty, often without regard to merit.

Emotional Style

Refers to the characteristic ways individuals experience and express their emotions, influenced by personality, culture, and social norms.

Preaching

The act of delivering a religious message or sermon, typically involving the interpretation of scripture and guidance on moral or spiritual matters.