The LRAS Curve Is Drawn as a Vertical Line at Potential

question 123

Multiple Choice

The LRAS curve is drawn as a vertical line at potential output (Y*) to indicate that

• A) Y* is independent of the price level.
• B) Y* equals actual output (Y)in the long run.
• C) Y* is independent of the price level and that actual output Y = Y* in the long run.
• D) Y* is independent of the price level and that actual output Y > Y* in the long run.
• E) Y* is independent of the price level and that actual output Y < Y* in the long run.

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