Explain why the following statements are false. a. The aggregate-demand curve slopes
Chapter 33, Problem Problems and Applications 33.5(choose chapter or problem)
Explain why the following statements are false. a. The aggregate-demand curve slopes downward because it is the horizontal sum of the demand curves for individual goods. b. The long-run aggregate-supply curve is vertical because economic forces do not affect long-run aggregate supply. c. If firms adjusted their prices every day, thenthe short-run aggregate-supply curve wouldbe horizontal.d. Whenever the economy enters a recession,its long-run aggregate-supply curve shifts tothe left.
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