The long-run aggregate supply curve Group of answer choices is a graphical representation of the classical...
The long-run aggregate supply curve
Group of answer choices
is a graphical representation of the classical dichotomy.
indicates monetary neutrality in the long run.
is vertical
All of the above are correct.
Homework Answers
Ans- is vertical.
Explanation- The long run aggregate supply curve is vertical which reflects economics believes that change in the aggregate demand only change economy's total output for a short period. In the long run only capital, labour and technology affect aggregate supply because everything in the economy has assumed to be used optimally.
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The long-run aggregate supply curve
Group of answer choices
is a graphical representation of the classical...
The classical dichotomy and monetary neutrality are represented graphically by an upward-sloping short-run aggregate-curve. a vertical long-run aggregate-supply...
The classical dichotomy and monetary neutrality are represented graphically by an upward-sloping short-run aggregate-curve. a vertical long-run aggregate-supply curve. an upward-sloping long-run aggregate-supply curve. a downward-sloping aggregate-demand curve.
The aggregate-demand curve Group of answer choices is vertical in the long run. has a slope...
The aggregate-demand curve Group of answer choices is vertical in the long run. has a slope that is explained in the same way as the slope of the demand curve for a particular product. All of the above are correct. shows an inverse relation between the price level and the quantity of all goods and services demanded.
The long run aggregate supply curve is perfectly vertical to both the RBC and New keynesian...
The long run aggregate supply curve is perfectly vertical to both the RBC and New keynesian models of inflation and economic growth. this implies that a. inflation and long run supply and positively correlated b. sthe slope of the LRAS curve is negative c. there is no relationship between long run growth and inflation d. all of the possible choices are correct money neutrality implies that a. all the possible choices are correct b. increaes in the money supply have...
QUESTION 7 The long run aggregate supply curve (LRAS) is vertical. What economic theory does this...
QUESTION 7 The long run aggregate supply curve (LRAS) is vertical. What economic theory does this represent? o the liquidity theory O a liquidity trap O the classical dichotomy O constant returns to scale QUESTION 8 Why might prices be inflexible in the short run? O sticky wages O sticky prices O missperceptions o all of the above
The long-run aggregate supply curve is vertical because Select one: a. potential GDP is independent of...
The long-run aggregate supply curve is vertical because Select one: a. potential GDP is independent of the price level. ob. actual output can never exceed, even temporarily, the output rate implied by the economy's long-run aggregate supply curve. c. a vertical long-run aggregate supply curve indicates the maximum output rate that an economy can ever reach. d. a vertical long-run supply curve indicates that an increase in aggregate demand will lead to a
Describe the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve. A. the...
Describe the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve. A. the SRAS curve is horizontal and the LRAS curve is upward sloping B. the SRAS curve is horizontal and the LRAS curve is vertical C. the SRAS curve is vertical and the LRAS curve is horizontal D. the SRAS curve is vertical and the LRAS curve is upward sloping Why is the short-run aggregate supply curve horizontal? A. because output is fixed in the short...
The pre-Keynesian or classical economic theory viewed the long-run aggregate supply curve for the economy to...
The pre-Keynesian or classical economic theory viewed the long-run aggregate supply curve for the economy to be: a. vertical at the full-employment level of real GDP. b. positively sloped at the full-employment level of real GDP. c. horizontal at the full-employment level of real GDP. d. backward bending at the full-employment level of real GDP.
In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0...
In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0 upsloping and the long-run aggregate supply curve is vertical. 0 vertical and the long-run aggregate supply curve is horizontal 0 horizontal and the long-run aggregate supply curve Is upsloping. 0 horizontal and the long-run aggregate supply curve Is vertical.
1. Monetary neutrality is a characteristic of the aggregate demand-aggregate supply model in: the long run,...
1. Monetary neutrality is a characteristic of the aggregate demand-aggregate supply model in: the long run, but not in the short run. the short run, but not in the long run. both the short run and the long run. neither the short run nor the long run.
The figure below depicts the aggregate demand curve (AD), the short-run aggregate supply curve (SRAS), and the long-run aggregate supply curve (LRAS) for the United States. The economy is initially at long-run equilibrium, at point A.
The figure below depicts the aggregate demand curve (AD), the short-run aggregate supply curve (SRAS), and the long-run aggregate supply curve (LRAS) for the United States. The economy is initially at long-run equilibrium, at point A.One of the most contentious issues among economists involves the economy’s adjustment to long-run equilibrium. Some economists believe that adjustment can and should occur naturally. This group, the classical economists, stress the importance of aggregate supply. Others see the return to long-run equilibrium as an...
QUESTION 7 The long run aggregate supply curve (LRAS) is vertical. What economic theory does this represent? o the liquidity theory O a liquidity trap O the classical dichotomy O constant returns to scale QUESTION 8 Why might prices be inflexible in the short run? O sticky wages O sticky prices O missperceptions o all of the above
The long-run aggregate supply curve is vertical because Select one: a. potential GDP is independent of the price level. ob. actual output can never exceed, even temporarily, the output rate implied by the economy's long-run aggregate supply curve. c. a vertical long-run aggregate supply curve indicates the maximum output rate that an economy can ever reach. d. a vertical long-run supply curve indicates that an increase in aggregate demand will lead to a
In the extended analysis of aggregate supply, the short-run aggregate supply curve is Multiple Choice 0 upsloping and the long-run aggregate supply curve is vertical. 0 vertical and the long-run aggregate supply curve is horizontal 0 horizontal and the long-run aggregate supply curve Is upsloping. 0 horizontal and the long-run aggregate supply curve Is vertical.
1. Monetary neutrality is a characteristic of the aggregate demand-aggregate supply model in: the long run, but not in the short run. the short run, but not in the long run. both the short run and the long run. neither the short run nor the long run.
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