Long-run aggregate supply has this characteristic, Ask an Expert

Economics

Long-run aggregate supply has this characteristic because

1-consumers adjust their decisions based on aggregate price.

2-the federal government makes up the difference between GDP and potential output.

3-inflation adjusts the value of real GDP.

4-the ability of the economy to produce determines long-run output. This is independent of price.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91848400

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