Exhibit 10-6 Aggregate supply curve
In Exhibit 10-6, where the GDP = $1,200 billion,
A) everyone willing to work at the current wage is employed.
B) the economy has reached full employment.
C) GDP can increase to $1,100 billion without triggering an increase in the price level.
D) no further increases in the price level can generate more real GDP.
Correct Answer:
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