The aggregate supply curve is _____ in the short run and _____ in the long run.horizontal; downward slopinghorizontal; verticalvertical; horizontaldownward sloping; vertical
Question
The aggregate supply curve is _____ in the short run and _____ in the long run.horizontal; downward slopinghorizontal; verticalvertical; horizontaldownward sloping; vertical
Solution
The aggregate supply curve is horizontal in the short run and vertical in the long run.
Similar Questions
The short-run aggregate supply curve has a ________ slope because as prices of ________ rise, prices of ________ rise more slowly. a. positive; inputs; final goods and services b. vertical; final goods and services; inputs c. positive; final goods and services; inputs d. vertical; inputs; final goods and services
What is the slope of the long-run aggregate supply curve?
we distinguish between the long-run aggregate supply curve and the short-run aggregate supply curve. in the long run
which of the following is true about the long-run aggregate supply curve?
Which of the following options is correct?A.The aggregate demand curve slopes upward.B.The long-run aggregate supply curve is horizontal because output depends on technology and factor supply, not prices.C.The short-run aggregate supply curve is vertical because prices stick at a predetermined level.D.Shocks to aggregate demand and supply cause fluctuations in GDP and employment in the short run.
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