Explain Why the Long-Run Aggregate Supply (LAS)curve Is Vertical

question 164

Essay

Explain why the long-run aggregate supply (LAS)curve is vertical.

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Definitions:

Standard Normal Distribution

A probability distribution with a mean of zero and a standard deviation of one, represented by the bell curve.

Z-scores

Standard scores that indicate how many standard deviations an element is from the mean, used to compare data points across different scales or distributions.

Standard Normal Distribution

A normal distribution with a mean of zero and a standard deviation of one, used in statistical analysis.

Less Than

A mathematical expression used to compare two values, indicating that one value is smaller than the other.