The Long-Run Aggregate Supply Curve

question 55

Multiple Choice

The long-run aggregate supply curve

• A)has a negative slope.
• B)has a steep but positive slope.
• C)is horizontal.
• D)is vertical.
• E)has steep by negative slope.

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Definitions:

Slope

A measure of the steepness or incline of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Forbes 500 List

An annual ranking by Forbes magazine of the 500 largest U.S. corporations, based on their revenue.

Regression

A statistical method used to determine the relationship between a dependent variable and one or more independent variables, often used for prediction and forecasting.

Slope

In statistics, the rate at which one variable changes over another, specifically in the context of linear regression.