If the Long-Run Aggregate Supply Curve Is Vertical

question 195

Multiple Choice

If the long-run aggregate supply curve is vertical

• A)the economy stays at the natural rate of inflation in the long run.
• B)the short-run Phillips curve must be vertical.
• C)unemployment and inflation are positively related in the long run.
• D)the trade-off between unemployment and inflation cannot be permanent.

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Definitions:

Rural Areas

Regions characterized by low population density, often agricultural or undeveloped lands, distinguished from urban or suburban areas.

Handicap Accessible

Environments, facilities, or services designed to be usable by individuals with disabilities, ensuring inclusivity and accessibility.

Residential Community

A living area where people reside in close proximity to one another and often share common values or goals; it may include amenities and services for the residents.

Socioemotional Selectivity

A theory proposing that people increasingly prioritize emotionally meaningful goals and relationships as they age.