Which of the Following Statements Is TRUE

question 259

Multiple Choice

Which of the following statements is TRUE?

• A) The long-run aggregate supply curve is upward sloping.
• B) The long-run aggregate demand curve is upward sloping.
• C) The short-run aggregate supply curve is vertical.
• D) The long-run aggregate supply curve is vertical.

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Definitions:

Land Developer

An individual or company that acquires land and prepares it for construction, including planning, zoning, and installing basic infrastructure.

Speculation

Speculation involves making high-risk financial transactions with the hope of significant profits, often based on future changes in market conditions.

Subject to the mortgage

This phrase denotes that a property is encumbered by a mortgage, meaning any dealings with the property must take into account the mortgage's terms and conditions.

Unregistered Mortgage

An unregistered mortgage refers to a mortgage agreement that has not been formally recorded with a governmental registry or legal authority, potentially affecting its enforceability and priority against other claims.