In the Long Run, the Aggregate Supply Curve of an Economy

question 2

Multiple Choice

In the long run, the aggregate supply curve of an economy is:

• A)upward sloping.
• B)downward sloping.
• C)horizontal.
• D)vertical.

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Definitions:

Lower Needs

Typically refers to the more basic needs in Maslow's hierarchy, such as physiological needs and safety, which must be met before higher-level needs can be addressed.

Survival

The act of continuing to live or exist, typically in spite of an accident, ordeal, or difficult circumstances.

Human Strengths

The innate capacities and positive qualities that enable individuals to thrive and overcome challenges.

Free-Will

The concept that individuals have the power to make choices that are not predetermined by past events, genetics, or environment.