Pearson eText Economics of Money, Banking and Financial Markets, The, Business School Edition -- Instant Access (Pearson+)
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Chapter 23, Problem 4Q
To determine

In many countries around the world, the population is ageing and the large segments of the population are retiring or close to retirement. What effect would this have on a country’s long-run aggregate supply curve? What will happen to aggregate output as a result?

Concept Introduction:

Aggregate Supply − It is the relationship between price and the output in the long run. It is shaped vertical reflecting the fact that in the long run fluctuations in price will only cause temporary changes in the output.

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