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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

In the simple quantity theory of money, the AS curve is vertical. Explain why.

To determine

The vertical aggregate supply curve.

Explanation

One of the major assumptions of the quantity theory of money is that the total output produced remains constant...

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