When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, which of the following curves is vertical?
A. SRAS
B. AD
C. LRAS
D. None of the above
Answer: C
You might also like to view...
In the United States, marketing cooperatives are most prevalent in
a. manufacturing. b. agriculture. c. the accounting profession. d. law firms.
Many developing countries make the government budget one of the primary tools of long-run industrial development, with the government owning and operating industries such as steel mills, airlines, and phone companies
Indicate whether the statement is true or false
Countries that experience very high rates of inflation may also have
A) balanced budgets. B) rapidly growing money supplies. C) falling money supplies. D) constant money supplies.
The market price of output affects
a. the supply of the resources used to produce it b. the demand for the resources used to produce it c. the marginal product of the resources used to produce it d. the marginal resource cost of the resources used to produce it e. the total cost of the resources used to produce it