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Answer to Question #62858 in Macroeconomics for Gian

Question #62858
Aggregate supply curve ... (several answers possible)
(a) is vertical in the long run because, in the long term, expected prices are equal to the actual ones.
(b) is moved to the right if the potential output rises.
(c) shows a positive relationship between the price level and output in the short run.
(d) is not affected by the expectations formation processes.
Expert's answer
Aggregate supply curve ...
(b) is moved to the right if the potential output rises.
(c) shows a positive relationship between the price level and output in the short run.

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