The Long-Run Aggregate Supply Curve Is Vertical

question 197

Multiple Choice

The long-run aggregate supply curve is vertical:

• A)because the rate of inflation is steady in the long run.
• B)because resource prices eventually catch up with product prices.
• C)because product prices always increase at a faster rate than resource prices.
• D)only when the money supply increases at the same rate as real GDP.

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Definitions:

Culture Clusters

Groupings of cultures that share similar characteristics and values.

Global Leadership Dimensions

The attributes, behaviors, and practices that enable leaders to successfully operate and influence on an international scale.

GLOBE Research Project

A multi-phase, multi-method project examining leadership and cultural values across the world.

Societal Cultures

The shared norms, values, traditions, and behaviors of a group of people that define their way of life.