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2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts

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Question 15

Which one of the following is a key determinant of the position of an economy's long-run aggregate supply curve?

The marginal propensity to consume

The level of spare capacity in the economy

The size and quality of the labor force

The current rate of consumer price inflation

2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts Questions

  1. A Level
  2. /Economics
  3. /2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts