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Introduction to Economics 2
Introduction to Economics 2 Deneme Sınavı
Introduction to Economics 2 Deneme Sınavı Sorusu #755330
Introduction to Economics 2 Deneme Sınavı Sorusu #755330
Cassical economists argue that the short-run supply curve is completely vertical or rather steep. What could be the reason for that?
Intense entry barriers to industries |
Firms’ low product range |
Government’s expanded monetary policy |
The economy is always at full of employment |
Highly concentrated markets |
Yanıt Açıklaması:
There are different approaches among economists regarding the shape of the short-run aggregate supply curve, in other words, the slope of the short-run aggregate supply curve. Classical economists argue that the short-run supply curve is completely vertical or rather steep because the economy is always at full of employment as a result of dynamics of the market mechanism.
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