Long-Run Aggregate Supply Curve (LAS) Quiz

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7 Questions

How does the long-run aggregate supply curve (LAS) behave in response to changes in the price level?

What does a vertical long-run aggregate supply curve (LAS) indicate about an economy?

How does the long-run aggregate supply curve (LAS) differ from the short-run aggregate supply curve (SAS)?

The subprime mortgage crisis was a significant event in the financial industry?

The long-run aggregate supply curve (LAS) is different from the short-run aggregate supply curve (SAS)?

A vertical long-run aggregate supply curve (LAS) indicates a stable economy?

Changes in the price level do not affect the long-run aggregate supply curve (LAS)?

Description

Test your knowledge about the characteristics of the long-run aggregate supply curve (LAS) by determining whether certain statements about its slope and shape are true or false.

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