Business, 18.12.2019 03:31 aaronjcerrato

The appearance of the long-run aggregate-supply (lras) curve

a. is consistent with the concept of monetary neutrality.
b. is consistent with the idea that point a represents a long-run equilibrium and a short-run equilibrium when the relevant short-run aggregate-supply curve is sras1.
c. indicates that y1 is the natural rate of output.
d. all of the above are correct.

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The appearance of the long-run aggregate-supply (lras) curve

a. is consistent with the...