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Author Question: What is most affected by the expected rate or pace of economic growth? A) investment spending B) ... (Read 61 times)

madam-professor

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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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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
YES! Correct, THANKS for helping me on my review


Laurenleakan

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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