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CLEP Principles of Macroeconomics Exam Prep

Category - Macroeconomics

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The medium run aggregate supply (MRAS) is affected by labor, capital availability, technological capability, and wage rate.

True
False

Explanation

Answer - A - The answer is true.

Key Takeaway: The medium run aggregate supply (MRAS) is an intermediary between the long run and short run aggregate supplies. The MRAS curve slopes upwards and is vulnerable to changes in labor, capital, technological capability, and wage rate.

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