Question

the appearance of the long-run aggregate-supply (lras) curve a. is consistent with the concept of monetary neutrality. b. is consistent with the idea that point a represents a long-run equilibrium and a short-run equilibrium when the relevant short-run aggregate-supply curve is sras1. c. indicates that y1 is the natural rate of output. d. all of the above are correct.

Answer 1

The appearance of the long-run aggregate-supply (lras) curve a. is consistent with the concept of monetary neutrality

In the above mentioned question all the statements are correct.

Hence , option D is correct.

What do you mean by Aggregate supply?

Aggregate supply is also known as total output can be defined as the total supply of goods and services produced within an economy at a given overall price in a given period. It is majorly  driven by the four factors of production: labour, capital goods, natural resources, and entrepreneurship.

It  is generally a  response to increasing prices that drive firms to utilise more inputs to produce more output.

Hence, all the above statements are correct.

To know more about aggregate supply from the given link

https://brainly.com/question/11889136

#SPJ4