The Long-Run Aggregate Supply Curve Is Upward Sloping Because of Sticky

question 86

True/False

The long-run aggregate supply curve is upward sloping because of sticky wages and prices.

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Definitions:

CIO

Can refer to Chief Information Officer, a senior executive responsible for managing an organization's information technology strategy. It also can denote the Congress of Industrial Organizations, a federation of labor unions in the United States.

AFL

The American Federation of Labor (AFL) was a national federation of labor unions in the United States, founded in 1886, focused on advocating for fair labor practices and workers' rights.

AFL

American Federation of Labor, a national federation of labor unions in the United States which aims to improve employment conditions.

Demands

Demand refers to the quantity of a good or service that consumers are willing and able to purchase at different prices.