When the labor market is in equilibrium,
A) the price level equals potential prices.
B) real GDP equals potential GDP.
C) the SAS curve is horizontal.
D) the price level is stable.
Correct Answer:
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Q12: Which of the following variables does NOT
Q13: The quantity of real GDP supplied at
Q15: The quantity of real GDP supplied _
Q16: Aggregate supply is
A) the relationship between the
Q16: We distinguish between the long-run aggregate supply
Q18: In the macroeconomic long run,
A) output always
Q19: An aggregate supply curve depicts the relationship
Q20: In the macroeconomic short run,
A) actual real
Q21: The long- run aggregate supply curve is
Q22: The long- run aggregate supply curve illustrates
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