Problem1 what is meant by the natural level of income and, Ask an Expert

Economics

Problem

1. What is meant by the natural level of income and employment? Why is the long-run aggregate supply curve vertical at the natural level?

2. What is the difference between the short-run aggregate supply curve and the long-run aggregate supply curve? Are they ever the same?

3. Is it possible that increased international economic transactions could affect the aggregate supply curves? Why or why not?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M92756397

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