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                    Long Run Aggregate Supply Curve                 
    
        
    
    
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                    Recessionary Gap - Long-Run Adjustment                 
    
        
    
    
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                    Inflationary Gap - Adjustment to Long Run…                 
    
        
    
    
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                    The Long Run Aggregate Supply Curve                 
    
        
    
    
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                    Deriving the Long Run Aggregate Supply Curve                 
    
        
    
    
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                    Unexpected productivity changes and unemployment…                 
    
        
    
    
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                    The elasticity of demand - short run versus the…                 
    
        
    
    
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                    Pure competition in the long run.                 |