Question: Answer all with small explanation 5. Explain why the following statements are false. a. The aggregate-demand curve slopes downward because it is the horizontal sum

Answer all with small explanation

Answer all with small explanation 5. Explain why the following statements are

5. Explain why the following statements are false. a. "The aggregate-demand curve slopes downward because it is the horizontal sum of the demand curves for individual goods." b. "The long-run aggregate-supply curve is vertical because economic forces do not affect long-run aggregate supply." C. "If firms adjusted their prices every day, then the short-run aggregate-supply curve would be horizontal.' d. "Whenever the economy enters a recession, its long-run aggregate-supply curve shifts to the left.&quot

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!