Question: What does the long - run aggregate supply curve represent? The relationship in the long - run between the price level and the quantity of
What does the longrun aggregate supply curve represent?
The relationship in the longrun between the price level and the quantity of real GDP supplied
Flexible prices since firms are able to fully adjust economic variables in the longrun
The LRAS is a vertical line to show how the price level does not have an impact on real GDP in the longrun.
All of the above.
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