A vertical AS curve means that the level of aggregate supply (or potential GDP) will determine the real GDP of the economy, regardless of the level of:
A. cyclical unemployment.
B. real unemployment.
C. aggregate demand.
D. inflationary pressures.
Answer:C
A vertical AS curve means that the level of aggregate supply (or potential GDP) will determine the real GDP of the economy, regardless of the level of:
A. cyclical unemployment. B. real unemployment. C. aggregate demand. D. inflationary pressures.
Explanation: Type: Multiple Choice