Which of the Following Statements About the Long-Run Aggregate Supply

question 24

Multiple Choice

Which of the following statements about the long-run aggregate supply curve is the most accurate?

• A)It is upward sloping.
• B)The level of real GDP supplied changes as input prices change.
• C)The level of real GDP supplied changes with the levels of capital, land, labour, and technology available to the economy.
• D)The LRAS shifts when the SRAS shifts.

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Definitions:

Commercial Banks

Financial institutions that offer a wide range of banking services to individuals and businesses, including deposit accounts, loans, and other financial products.

Venture Capitalists

Investors who provide capital to startups and small businesses with long-term growth potential in exchange for equity.

Retail Chains

A series of retail stores operating under the same brand and management, offering the same line of products or services across multiple locations.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns.