The Long-Run Aggregate Supply Curve Is Vertical Because

question 69

Multiple Choice

The long-run aggregate supply curve is vertical because

• A) the economy has yet to use all its available resources.
• B) the economy has reached its potential real Gross Domestic Product (GDP) and is at full employment.
• C) the economy has contracted.
• D) the economy has large numbers of unemployed.

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Definitions:

Resource Partitioning

A concept in ecology where species adapt to compete less directly for environmental resources, often by specializing in different niches or times for activity.

Predators

Organisms that hunt and feed on other organisms for survival.

Native Species

Organisms that are naturally occurring in a region or habitat without human intervention, adapted to local environmental conditions over time.

Specialist Species

Organisms adapted to thrive in a specific habitat or to utilize a narrow range of food sources, making them vulnerable to changes in their environment.