Which of the Following Statements About the AD/AS Macro Model

question 99

Multiple Choice

Which of the following statements about the AD/AS macro model in the long run is correct?

• A)Both real GDP and the price level are determined by aggregate demand.
• B)Both real GDP and the price level are determined by Y*.
• C)Long-run real GDP is determined by Y* and the long-run price level by the AD curve.
• D)Real GDP is determined by aggregate demand and the price level by Y*.
• E)Long-run real GDP is determined by aggregate demand and the price level is determined solely by the AS curve.

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Definitions:

Organizational Learning

involves the process by which an organization improves its ability to achieve its goals by creating, acquiring, and transferring knowledge, as well as modifying its behavior to reflect new insights and knowledge.

Knowledge Management

The process of capturing, developing, sharing, and effectively using organizational knowledge.

Knowledge Acquisition

The process of obtaining, absorbing, and storing new knowledge or skills through various means such as studying, training, or direct experiences.

Self-Reinforcement

A cognitive process by which individuals reward or punish themselves for meeting or failing to meet their own standards or goals.