PLEASE GIVE FULL EXPLANATION
1- distinguish between short-run and long-run aggregate supply. what is the short run?
what assumption is critical to the development of the short run aggregate supply curve as distinct from the long run aggregate supply curve? Explain
This solution distinguishes between short-run and long-run aggregate supply.
Define long run and short run aggregate supply curves.
Explain the differences between the long run and short run aggregate supply curves and explain how an expasionary gap occurs.View Full Posting Details