Use the Following to Answer Questions

question 79

Multiple Choice

Use the following to answer questions .
Exhibit: Using the Aggregate Demand/Aggregate Supply Model 2
-(Exhibit: Using the Aggregate Demand/Aggregate Supply Model 2) At output level Y_K,

• A) potential output is less than actual output.
• B) there is a surplus of real GDP.
• C) the unemployment rate exceeds the natural rate of unemployment.
• D) over time aggregate demand will rise to restore long-run equilibrium.

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Definitions:

Peer Groups

Consist of people who are closely related in age and share similar interests.

Similar Interests

Shared hobbies, preferences, or goals among a group of individuals that often lead to social bonding and group formation.

Canadian Census

The Canadian Census is an extensive enumeration that happens every five years, collecting detailed demographic information about the population residing in Canada, including age, sex, and occupation.

Unmarried Population

The unmarried population consists of individuals who are not legally married, including those who are single, divorced, or widowed.