Answer:
Long run aggregate supply (LRAS) is a theoretical concept and refers to the output that an economy can produce when using all its factors of production, and hence when operating at full employment. Graphically, it is a vertical curve indicating that, in the long run, output is not affected by changes in the price level.
Answer:
C) An increase in the price of tennis racquets
Explanation:
If tennis racquets become more expensive, the demand for them will decline, and people will try to supply this need with substitutes, for example, lacrosse raquets. The reason for this is that the classical supply and demand model tells us that demand and price are inversely correlated: if the price goes up, demand goes down, and viceversa.
The answer is accord. It is a proposal to substitute a dissimilar obligation for one that was beforehand unsettled, plus the recognition of that offer. Either of the parties convoluted can suggest an accord. If the recently substituted obligation is essentially performed, the act is named a satisfaction.
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