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13 Jun 2018
Explain why the following statements are false:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
(a). The aggregate-demand curve slopes downward because it is the horizontal sum of the
demand curves for individual goods.
(b). The long-run aggregate-supply curve is vertical because economic forces do not affect
long-run aggregate supply.
(c). I firms adjusted their prices every day, then the short-run aggregate supply curve would
be horizontal.
(d). Whenever the economy enters a recession, its long-run aggregate-supply curve shifts to
the left.
Explain why the following statements are false:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
(a). The aggregate-demand curve slopes downward because it is the horizontal sum of the
demand curves for individual goods.
(b). The long-run aggregate-supply curve is vertical because economic forces do not affect
long-run aggregate supply.
(c). I firms adjusted their prices every day, then the short-run aggregate supply curve would
be horizontal.
(d). Whenever the economy enters a recession, its long-run aggregate-supply curve shifts to
the left.
3
answers
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watching
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Jarrod RobelLv2
16 Jun 2018
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