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Jessie Jones
on Nov 11, 2024

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Which of the following does not influence the position of the long-run aggregate supply curve?

A) The quantity of raw materials available for production
B) The quantity of capital used in production
C) The quality of the labor force
D) The actual price level
E) The size of the labor force

Long-Run Aggregate Supply

The total supply of goods and services that an economy can produce when it is using all of its resources efficiently and sustainably.

Actual Price Level

The current market price of goods and services, reflecting the true purchasing power of money at a given time.

Raw Materials

Basic materials from which products are made, typically extracted from natural resources.

  • Recognize the variables that cause shifts in the aggregate supply curves over short and extended periods.
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Awoke MulugetaNov 13, 2024
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