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What determines the position of long-run aggregate supply (LRAS)?
A
The price level and quantity of money determine the economy's potential output.
B
The quantity and quality of factors of production determine the economy's potential output.
C
Consumer confidence and household saving determine the economy's potential output.
D
The exchange rate and balance of payments determine the economy's potential output.
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2.3.3 Long-run AS Flashcards
24 flashcards on Edexcel A A Level Economics 2.3.3 Long-run AS: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.