When the production possibilities curve shifts outward,
A) the price level rises in the long run.
B) the long-run aggregate supply curve is unchanged.
C) the long-run aggregate supply curve shifts to the left.
D) the long-run aggregate supply curve shifts to the right.
D
Economics
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Refer to the figure. Which of the long-run aggregate-supply curves is consistent with long-run equilibrium?
a. both LRAS2 and LRAS3 b. LRAS3 c. LRAS1 d. LRAS2
Economics
A good that is both rival and exclusive is called
a. a private good b. a public good c. a quasi-private good d. an external good e. an open access good
Economics