For each of the following statements indicate whether it is, Ask an Expert

Economics

For each of the following statements, indicate whether it is true or 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 the price level does 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.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91235332

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