Which of the Following Statements Is True About the Long-Run

question 126

Multiple Choice

Which of the following statements is true about the long-run and short-run aggregate supply curve in the classical model?

• A) The long-run aggregate supply curve is vertical, and the short-run curve is horizontal.
• B) The long-run aggregate supply curve is not defined, and the short run curve is vertical.
• C) The long-run and short-run curves start out horizontal and eventually become vertical.
• D) The long-run curve is vertical, and there is no short-run curve since all adjustments occur quickly.

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Definitions:

Saturated Hydrocarbons

Organic compounds consisting entirely of single bonds between carbon atoms and full hydrogenation, making them relatively chemically stable.

Distinguish

To recognize or note the difference between two or more things, often used in the context of chemical testing to identify substances.

Reaction Sequence

A series of chemical reactions where the product of one reaction serves as the reactant for the next.

Phospholipid

A lipid molecule that is a major component of cell membranes, consisting of two fatty acids, a phosphate group, and a glycerol backbone.