The Aggregate Supply Curve in the Long Run Is Vertical

question 3

True/False

The aggregate supply curve in the long run is vertical because wages and other input prices respond completely to a change in price level.

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Definitions:

Somatosensory System

The part of the sensory system concerned with receiving and processing sensory information from across the body, such as touch, temperature, and pain.

Anticipation Response

The reaction or behavior that precedes and prepares for an expected stimulus or event.

Cutaneous Receptors

Sensory receptors found in the dermis or epidermis of the skin that respond to stimuli such as touch, temperature, and pain.

Endorphin

Naturally occurring peptides in the brain that act as neurotransmitters to reduce pain and elicit feelings of pleasure or euphoria.