Economics · Macroeconomics
In the standard Keynesian model, the Aggregate Supply (AS) curve and Aggregate Demand (AD) curve are characterized as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1AS is horizontal; AD is vertical
- 2AS is vertical; AD is upward sloping
- 3AS is horizontal up to the full-employment level and then turns vertical; AD is downward sloping✓
- 4AS is fully horizontal; AD is downward sloping
Correct answer
AS is horizontal up to the full-employment level and then turns vertical; AD is downward sloping
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