The Misperceptions Theory Explains Why the Long-Run Aggregate Supply Curve

question 35

True/False

The misperceptions theory explains why the long-run aggregate supply curve is downward sloping.

---

Definitions:

Silicate Content

The proportion of silicate minerals present in a rock, soil, or other material.

Felsic

Refers to igneous rocks that are rich in light-colored minerals such as quartz and feldspars, typically associated with continental crust.

Higher Viscosity

Refers to fluids that have a greater resistance to flow, often relating to the thick, slow-moving nature of certain types of lava.

Silicate Chains

Linear arrangements of silicate minerals linked by oxygen atoms, common in the structure of many igneous rocks.