Explain why, in the long run, a change in average prices has no impact on output. What

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Explain why, in the long run, a change in average prices has no impact on output. What impact does aggregate demand have in determining output in the long run?

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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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Question Posted: Feb 20, 2024 01:00 AM

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Explain why, in the long run, a change in average prices has no impact on output. What

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In the long run changes in average prices inflation or deflation do not have a lasting impact on output because the economy tends to adjust to restore ...View the full answer

Principles Of Economics

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