Explain Why the Long-Run Aggregate Supply (LAS)curve Is Vertical

question 170

Essay

Explain why the long-run aggregate supply (LAS)curve is vertical.What determines the position of the LAS curve?

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Definitions:

Middle School

An educational institution serving the transitional period from primary to high school, typically for students aged 11 to 14.

Part-Time Employment

Work that is performed for fewer hours per week than a full-time job.

School Achievement

The accomplishment and success in academic activities at school, often measured by grades, test scores, and other educational milestones.

Adolescents

Individuals in the developmental stage between childhood and adulthood, typically between the ages of 13 and 18, characterized by significant physical, psychological, and social changes.