The long-run aggregate supply curve is a vertical line passing through
A) the natural rate of output.
B) the natural-rate price level.
C) the actual rate of unemployment.
D) the expected rate of inflation.
A
You might also like to view...
If the price level in an economy rises and its output level decreases as it gravitates toward its potential GDP, then: a. a policy to manipulate the aggregate supply is being used
b. an active approach to correcting a recessionary gap is being used. c. an active approach to correcting an expansionary gap is being used. d. a passive approach to correcting a recessionary gap is being used. e. a passive approach to correcting an expansionary gap is being used.
Either technological progress or cost increasing new government regulations will increase supply
a. True b. False Indicate whether the statement is true or false
Currently, the United States imports more than it exports
a. True b. False Indicate whether the statement is true or false
Does the restoration of historic buildings create a positive externality or does it create a negative externality?