Quizzol

QUESTION:

Which of the following statements is true regarding the long-run aggregate-supply curve? The long-run aggregate-supply curve _______.

a. shifts left when the natural rate of unemployment falls

b. shifts right when the government raises the minimum wage

c. is positively sloped because price expectations and wages tend to be fixed in the long run

d. is vertical because an equal change in all prices and wages leaves output unaffected

ANSWER:

d. is vertical because an equal change in all prices and wages leaves output unaffected

Posted by Cleveland on September 10, 2024