Economics · Macroeconomics
Given below are two statements: Assertion (A): According to Keynesian macroeconomics, the aggregate supply curve becomes vertical at full employment level. Reason (R): Once full employment is reached, output cannot be increased further because all available labour resources are fully utilized. Choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both (A) and (R) are correct but (R) is not the correct explanation of (A)
- 2Both (A) and (R) are correct and (R) is the correct explanation of (A)✓
- 3(A) is incorrect, but (R) is correct
- 4(A) is correct, but (R) is incorrect
Correct answer
Both (A) and (R) are correct and (R) is the correct explanation of (A)
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