Explain Aggregate Supply

question 86

Essay

Explain aggregate supply. Why is the aggregate supply curve vertical in the long run and horizontal in the short run?

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Definitions:

American-Owned Employer

A business entity that is owned by individuals or entities based in the United States.

International Service

A type of service that is provided across national borders, catering to a global clientele.

Monetary Compensation

Payment given to employees as wages, salaries, bonuses, and commissions in exchange for their work.

Direct Payments

Financial transactions where funds are transferred from one party to another without intermediaries, often used in payroll or benefit disbursement.