A vertical long-run aggregate supply curve indicates that O policies that shift the aggregate demand will not change real GDP in the long run. O the nation's productive capacity will not change in the long run if real GDP changes. real GDP tends not to grow in the long run. output rates greater than the long-run supply constraint can never be achieved. O an increase in the price level will permit the economy to achieve a higher level of output.
A vertical long-run aggregate supply curve indicates that O policies that shift the aggregate demand will not change real GDP in the long run. O the nation's productive capacity will not change in the long run if real GDP changes. real GDP tends not to grow in the long run. output rates greater than the long-run supply constraint can never be achieved. O an increase in the price level will permit the economy to achieve a higher level of output.
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter33: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
Problem 4CQQ
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