Consider the AD/AS Model

question 65

Multiple Choice

Consider the AD/AS model.In the long run,after factor prices have fully adjusted to any output gaps,real GDP

• A)and the price level are determined by aggregate demand.
• B)and the price level are determined by "long-run aggregate supply."
• C)is determined by aggregate demand and the price level by potential output.
• D)is determined by potential output and the price level by aggregate demand.
• E)is determined by AD and the price level is determined by the AS curve.

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Definitions:

Homeless

People lacking stable and permanent housing or adequate living conditions.

Absolute Homelessness

Situation of individuals who live either in emergency shelters or on the street.

Concealed Homelessness

The situation of individuals who do not have a home of their own and stay with friends, family, or in other temporary arrangements, often not visible in homeless statistics.

Relative Homelessness

State of those who have housing, but who live in substandard or undesirable shelter and/or who may be at risk of losing their homes.