The Economy's Long-Run Aggregate Supply Curve

question 125

Multiple Choice

The economy's long-run aggregate supply curve

• A) never shifts
• B) indicates that in the long run,the price level is constant
• C) is shifted by demand shocks
• D) is a vertical line at the full-employment level of output
• E) is perfectly elastic

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Definitions:

Eugene Lang

A philanthropist and entrepreneur known for his promise to an entire sixth-grade class in Harlem that he would finance their college education if they graduated high school.

Carnegie Corporation

A philanthropic fund established in 1911 by Andrew Carnegie to support education and research across a range of fields.

Middle Schools

Educational institutions designed for students typically in the early stages of adolescence, usually grades 6 through 8 in the United States.

Carnegie Council

An organization dedicated to advancing the cause of ethics in international affairs.