Why is the AS curve is flat at very low levels of real output and becomes very

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Why is the AS curve is flat at very low levels of real output and becomes very steep at higher levels of real output?

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Macroeconomics

ISBN: 978-0138014919

12th edition

Authors: Robert J Gordon

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Question Posted: Mar 01, 2017 01:23 PM

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Why is the AS curve is flat at very low levels of real output and becomes very

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The Aggregate Supply AS curve is derived using a nominal wage and in the shortrun ...View the full answer

Macroeconomics

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