In the long run, real output can be less than, equal to, or greater than the economy's potential output.
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Q147: The potential level of real GDP is
Q148: An increase in the prices of natural
Q149: Use the following to answer questions .
Exhibit:
Q150: In the short run, all prices are
Q151: The short run in macroeconomics is a
Q153: The long-run aggregate supply curve is vertical
Q154: The use central bank policies to influence
Q155: If an economy is operating at its
Q156: Use the following to answer questions .
Exhibit:
Q157: The long run in macroeconomics is a
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