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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

The shape of the aggregate supply curve matters to one’s view of the ability of government to change Real GDP by way of demand-side fiscal policy and monetary policy. Do you agree or disagree? Explain your answer.

To determine

Explain whether the given statement is agreeable or not and if it is agreeable, explain why.

Explanation

The given statement is agreeable. The shape of the aggregate supply curve is important to show the capability of the government to modify the Real GDP of country by the way of demand-side fiscal policy and monetary policy. That is, if the shape of the aggregate supply curve is vertical (in long run), the government ...

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