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QUESTION
1. Aggregate Supply curve shows the relationship between the price level and the real GDP supplied in an economy. Under what circumstances the AS
1. Aggregate Supply curve shows the relationship between the price level and the real GDP supplied in an economy.
- Under what circumstances the AS curve will have a flat segment?
- When an economy has a vertical AS curve?
- The AS curve is upward sloping in the intermediate region between the horizontal and the vertical segments. What kind of macroeconomic conditions give rise to the upward sloping range?
