According to New Classical School of Economics, the Aggregate Supply

question 79

Multiple Choice

According to new classical school of economics, the aggregate supply curve is:

• A)horizontal in both the short run and the long run.
• B)vertical in the short run and upward-sloping in the long run.
• C)upward-sloping in both the short run and the long run.
• D)vertical in both the short run and the long run.
• E)upward-sloping in the short run and vertical in the long run.

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Definitions:

Sensorimotor Stage

The first stage of Jean Piaget's theory of cognitive development, occurring from birth to approximately age 2, during which infants learn about the world through their sensory perceptions and motor activities.

Motor Skills

Skills involving the precise movement of muscles with the intent to perform a specific act, classified into fine motor skills and gross motor skills.

Understand The World

The capacity to grasp, comprehend, and interpret the nature, significance, or explanation of things around us.

Sucking Thumb

A natural reflex for babies and young children that serves as a mechanism for self-soothing and emotional regulation.