A Vertical Long-Run Aggregate Supply Curve Indicates That

question 90

Multiple Choice

A vertical long-run aggregate supply curve indicates that

• A)an increase in the price level will not expand an economy's output in the long run.
• B)output rates greater than the long-run output rate are unattainable.
• C)an increase in the price level will permit the economy to achieve a higher level of output.
• D)an increase in the price level will increase technological change and economic growth.
• E)the long-run aggregate supply curve never shifts.

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Definitions:

Similar Status

A condition or situation where individuals or groups have equivalent positions, rank, or social standing within a society.

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A collective sense of belonging to a group, where members recognize common traits, experiences, or purposes, fostering unity and solidarity.

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A group of people who share a common characteristic or attribute but do not necessarily interact with one another.

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A type of organized crime syndicate in China and in countries with significant Chinese populations.