The long-run aggregate supply curve and the full-employment curve are vertical because a. output is determined by equili
Posted: Fri Jul 01, 2022 8:14 am
The long-run aggregate supply curve and the full-employmentcurve are vertical because
a. output is determined by equilibrium in the labor market inthe long-run and is therefore not a function of the price level orthe real wage rate.
b. output is determined by equilibrium in the labor market inthe long-run and is therefore not a function of the price level orthe real interest rate.
c. prices are quick to adjust.
d. prices are slow to adjust.
a. output is determined by equilibrium in the labor market inthe long-run and is therefore not a function of the price level orthe real wage rate.
b. output is determined by equilibrium in the labor market inthe long-run and is therefore not a function of the price level orthe real interest rate.
c. prices are quick to adjust.
d. prices are slow to adjust.