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Economics
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Economics
Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply cruve ?
Is vertical because an equal change in all prices and wages leaves output unaffected
Correct answer
B
is positively sloped because price expectations and wages tend to be fixed is the long run
Option B
C
shifts right when the government raises the minimum wage
Option C
D
shifts left when the natural rate of unemployment falls
Option D
Correct answer: A
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