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AD-AS Model: Equilibrium in the Short Run and Long Run
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AD-AS Model: Equilibrium in the Short Run and Long Run
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17. Aggregate Demand and Aggregate Supply Analysis / AD-AS Model: Equilibrium in the Short Run and Long Run / Problem 1
Problem 1
What is the primary difference between short run and long run aggregate supply curves in the AD-AS model?
A
Short run aggregate supply is vertical, while long run aggregate supply is upward sloping
B
Short run aggregate supply is upward sloping, while long run aggregate supply is vertical
C
Both short run and long run aggregate supply curves are vertical
D
Both short run and long run aggregate supply curves are upward sloping
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