In the Long Run, the Output Level Is Determined by

question 135

Multiple Choice

In the long run, the output level is determined by

• A) aggregate demand.
• B) long-run aggregate supply.
• C) the government.
• D) household income.

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Definitions:

Businesses

Organizations engaged in commercial, industrial, or professional activities.

Sustainable Growth

Economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Ecological Economists

Experts who study the relationship between ecological systems and economic systems, often focusing on sustainability and environmental impacts of economic decisions.

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Experts who study the economic impacts of environmental policies and the cost-benefit analyses of preserving or degrading the environment.