The Aggregate-Supply Curve Is Vertical in the Long Run Because

question 75

Multiple Choice

The aggregate-supply curve is vertical in the long run because:

• A)of the classical dichotomy and money neutrality
• B)aggregate demand is downward-sloping
• C)overall output goes up when prices go up
• D)overall output goes down when prices go up

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Definitions:

Procedural Memory

A type of long-term memory that involves the recall of how to perform tasks or skills.

Implicit Memory

A type of long-term memory that enables us to perform tasks without conscious awareness of these previous experiences.

Encoding Specificity Principle

The theory suggesting that the context in which information is learned aids in the retrieval of that same information.

Retrieval Cues

Stimuli or prompts that facilitate the recall of information stored in memory.