The Position of the Long-Run Aggregate Supply Curve

question 98

Multiple Choice

The position of the long-run aggregate supply curve

• A)is determined by the things that determine output in the classical model.
• B)is at the point where the unemployment rate is zero.
• C)shifts to the right when the price level increases.
• D)is at the point where the economy would cease to grow.

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Definitions:

Heritability Coefficient

A statistical estimate that indicates the proportion of variance in a particular trait within a population that can be attributed to genetic differences among individuals.

Trait Variability

The degree to which individual characteristics or traits differ among individuals within a population.

Absolute Sense

A term used to indicate a situation or measurement that is considered or believed to be entirely certain and unequivocal.

Shared Environment

Factors in the environment that individuals living together share and that can contribute to the similarities between them.