Economists Who Asset That the AS Curve Is Vertical Believe

question 93

Multiple Choice

Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the _____________of the economy; so government policy that is intended to impact the ____________________ of the economy will change only ______________,not ________________.

• A) demand side; supply side; Real GDP; prices
• B) demand side; supply side; prices; Real GDP
• C) supply side; demand side; Real GDP; prices
• D) supply side; demand side; prices; Real GDP

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Definitions:

Traditional Thinking

Traditional thinking refers to ways of thinking that are rooted in long-established beliefs, customs, or values, often resistant to change.

Assumption

A thing that is accepted as true or as certain to happen, without proof.

Past

A term referring to earlier times or events that have occurred before the present, often used in the context of history, memory, or assessment.

Homelessness

describes the condition of lacking stable, permanent, and adequate housing, resulting in living on the streets, in shelters, or in temporary accommodations.