Those Economists Who View the AS Curve as Being Vertical

question 59

True/False

Those economists who view the AS curve as being vertical see more government tools capable of raising Real GDP than do the economists who view the AS curve as being upward-sloping.

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Definitions:

S Corporation

A special designation for a corporation that allows income, losses, deductions, and credits to be passed through to shareholders for tax purposes.

Dual Purpose Corporation

A business entity designed to operate for both profit and to achieve a social or charitable goal.

General Partnership

A partnership in which the partners divide profits and management responsibility and share unlimited personal liability for the partnership’s debts.

Business Losses

Business losses are the negative financial impacts a business suffers, often reflected in its financial statements as expenses exceeding revenues.