Macro Equilibrium Always Occurs When

question 13

Multiple Choice

Macro equilibrium always occurs when

• A)Aggregate supply is greater than aggregate demand.
• B)The labor force is fully employed.
• C)Aggregate demand equals aggregate supply at a given average price level.
• D)The level of output is expanding.

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Definitions:

Necessity

A requirement or an indispensable item essential for survival or the functioning of a system.

Price of the Product

The financial cost of acquiring a good or service.

Buyer's Income

Buyer's Income is the total earnings or revenue available to consumers that influences their ability to purchase goods and services.

Burden of a Tax

The economic impact of a tax on the welfare of buyers and sellers, which can affect market behavior and economic efficiency.