We Distinguish Between the Long-Run Aggregate Supply Curve and the Short-Run

question 246

Multiple Choice

We distinguish between the long-run aggregate supply curve and the short-run aggregate supply curve.In the long run

• A) technology is fixed but not in the short run.
• B) the price level is constant but in the short run it fluctuates.
• C) the aggregate supply curve is horizontal while in the short run it is upward sloping.
• D) real GDP equals potential GDP.

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Plantations

Large agricultural estates typically found in the Americas that specialized in the cultivation of cash crops like sugar, cotton, and tobacco, often relying on slave labor.

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