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Author Question: What is most affected by the expected rate or pace of economic growth? A) investment spending B) ... (Read 83 times)

madam-professor

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on: Jun 30, 2018
What is most affected by the expected rate or pace of economic growth?
 
  A) investment spending B) government purchases
  C) unemployment D) exports

Question 2

Explain why the long-run aggregate supply curve is vertical.
 
  What will be an ideal response?


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macmac

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

In the long run, the economy operates at full employment, and changes in the price level do not affect employment. Because the level of full-employment output does not depend on the price level, long-run aggregate supply is unaffected by the price level, and so is vertical.


madam-professor

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

cam1229

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Reply 3 on: Yesterday
Excellent

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