Over Time in a Growing Economy, the Long-Run Aggregate Supply

question 423

Multiple Choice

Over time in a growing economy, the long-run aggregate supply curve will

• A) become horizontal at the long-run potential price level.
• B) shift rightward.
• C) shift leftward.
• D) become increasingly steep.

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Equilibrium Wage

The wage rate at which the quantity of labor demanded equals the quantity of labor supplied.

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