The long-run aggregate supply curve is vertical because in the long run:Choose one answer from the options below.technological progress outpaces raises in nominal wages.all factors of production increase.the price of labor is flexible, while the price of physical capital is fixed.all prices are flexible.

which of the following is true about the long-run aggregate supply curve?it is vertical at the level of potential gdpit does not shift in response to temporary changes in aggregate demandit shows the relationship between the price level and real gdp when wages and other costs are at an equilibrium level.all the above

which of the following is true about the long-run aggregate supply curve?

we distinguish between the long-run aggregate supply curve and the short-run aggregate supply curve. in the long runtechnology is fixed but not in the short runthe price level is constant but in the short run it fluctuatesreal gdp equals potential gdpthe aggregate supply curve is horizontal while in the short run it is upward sloping.

What shape is the long-run aggregate supply curve? vertical at the value of potential real GDP downward-sloping vertical at the value of potential nominal GDP upward-sloping but not vertical vertical at the value of maximum real GDP

we distinguish between the long-run aggregate supply curve and the short-run aggregate supply curve. in the long run