The Long-Run Aggregate Supply Curve Is Vertical

question 119

True/False

The long-run aggregate supply curve is vertical.

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Definitions:

Nonpreferred Workers

Employees or job candidates who may be considered less desirable by employers due to various factors such as lack of experience, education, or specific skills.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or month, for labor or services rendered.

Employer Prejudice

Bias or discrimination by employers towards certain groups of employees or potential employees based on non-work-related personal characteristics.

Discrimination Coefficient

A measure used in economics to quantify the degree to which agents differentiate between similar goods based on non-price factors.