The intersection of the aggregate demand curve and long-run aggregate supply curve:
A) determines equilibrium real GDP in both the long run and the short run
B) determines equilibrium real GDP in both the long run and the short run.
C) determines the equilibrium price level in both the long run and the short run
D) determines the equilibrium price level in both the long run and the short run.
E) occurs at potential output
F) occurs at potential output.
G) occurs at high levels of cyclical unemployment
H) occurs at high levels of cyclical unemployment.
Correct Answer:
Verified
Q146: (Figure: Shifts of the AD-AS Curves) Use
Q147: (Figure: Shifts of the AD-AS Curves) Use
Q148: (Figure: Shifts of the AD-AS Curves) Use
Q149: Which curve is easiest to shift through
Q150: According to the interest rate effect, an
Q152: If declining labor union membership causes workers
Q153: (Figure: Aggregate Supply) Use Figure: Aggregate Supply.
Q154: (Figure: Aggregate Supply) Use Figure: Aggregate Supply.
Q155: The level of output that is produced
Q156: The point where the long-run aggregate supply
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents