Solved

In Long-Run Macroeconomic Equilibrium

Question 230

Multiple Choice

In long-run macroeconomic equilibrium


A) real GDP equals potential GDP.
B) the price level is fixed and aggregate demand determines real GDP.
C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand, while long-run aggregate supply is irrelevant.
D) real GDP is less than potential GDP.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q225: -The data in</p></div><svg width=

Q226: -In the above</p></div><svg width=

Q227: -The data in</p></div><svg width=

Q228: Which of the following helps determine the

Q229: -Based on the</p></div><svg width=

Q231: Over time in a growing economy, the

Q232: The country of Epsilon has continuous strong

Q233: Which of the following can be said

Q234: -In the above</p></div><svg width=

Q235: -The above figure</p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents