The Long Run Aggregate Supply Curve Is

question 7

Multiple Choice

The long run aggregate supply curve is

• A) independent of prices and is vertical at the nation's natural rate of output
• B) dependent on prices and is vertical at the nation's natural rate of output
• C) independent of prices and is horizontal at the nation's natural rate of output
• D) dependent on prices and is horizontal at the nation's natural rate of output

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Definitions:

Parol Evidence Rule

A principle in contract law that prevents the parties from presenting external evidence that contradicts or adds to the written terms of a contract.

Merger Clause

A contract provision stating that the written contract represents the complete and final agreement between the parties.

House

A building for human habitation, typically consisting of multiple rooms and facilities designed to support daily life activities.

Ambiguity

A lack of clarity or uncertainty in meaning or intention, often leading to confusion or misunderstanding.