1. Aggregate Supply curve shows the relationship between the price level and the real GDP supplied in an economy. Under what circumstances the AS
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1. Aggregate Supply curve shows the relationship between the price level and the real GDP supplied in an economy.
- Under what circumstances the AS curve will have a flat segment?
- When an economy has a vertical AS curve?
- The AS curve is upward sloping in the intermediate region between the horizontal and the vertical segments. What kind of macroeconomic conditions give rise to the upward sloping range?
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