Which of the following statements are true which are falsea, Ask an Expert

Economics

Which of the following statements are true? Which are false?

a. Short-run aggregate supply curves reflect an inverse relationship between the price level and the level of real output.

b. The long-run aggregate supply curve assumes that nominal wages are fixed.

c. In the long run, an increase in the price level will result in an increase in nominal wages.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91675690

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