Which of the Following Best Describes the Long Run in Terms

question 99

Multiple Choice

Which of the following best describes the long run in terms of aggregate supply?  

• A) The long-run aggregate supply curve is horizontal. 
• B) The long-run aggregate supply curve is vertical. 
• C) The long-run aggregate supply slopes upwards, but is NOT vertical. 
• D) The long-run aggregate supply slopes downwards.

---

Definitions:

Dalton's Law

A principle stating that in a mixture of non-reacting gases, the total pressure exerted is equal to the sum of the partial pressures of the individual gases.

Partial Pressure

The pressure that each gas in a mixture would exert if it alone occupied the entire volume of the mixture at the same temperature.

Dissociation Curve

A graphical representation showing the fraction of a compound in a bound versus unbound state across a range of concentrations or conditions.

Chloride Ions

Negatively charged ions (Cl-) that are critical for maintaining fluid balance, nerve transmission, and muscle function in the body.