The aggregate supply curve is horizontal in the intermediate range

Figure 10.4 Federal Surplus or Deficit as a Percent of GDP

What will be an ideal response?

In the one-period competitive model we have been studying

A) both consumption and total factor productivity are exogenous. B) consumption is exogenous and total factor productivity is endogenous. C) consumption is endogenous and total factor productivity is exogenous. D) both consumption and total factor productivity are endogenous.