In the long run, the level of output is determined by the:
A)interaction of supply and demand.
B)money supply and the levels of government spending and taxation.
C)amounts of capital and labour and the available technology.
D)preferences of the public.

Question

Quizplus · Accepted Answer

In the long run, the level of output is determined by the factors of production, such as capital and labor, and the technology available, which influence the economy's productive capacity.

In the Long Run, the Level of Output Is Determined