What do grandma's brownie recipe and the long run aggregate supply curve (LRAS) have in common?...
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What do "grandma's brownie recipe" and the long run aggregate supply curve (LRAS) have in common? a. The LRAS has a positive relation to the price level and it is determined by changes in aggregate demand. b. When there's more demand for brownies, grandma makes more; when there's more demand for output, there is more supply. Oc. Neither one is affected by changes in the price level. C. Od. When the price of inputs goes up, long run supply increases. What do "grandma's brownie recipe" and the long run aggregate supply curve (LRAS) have in common? a. The LRAS has a positive relation to the price level and it is determined by changes in aggregate demand. b. When there's more demand for brownies, grandma makes more; when there's more demand for output, there is more supply. Oc. Neither one is affected by changes in the price level. C. Od. When the price of inputs goes up, long run supply increases.
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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