Which of the Following Statements Is True

question 149

Multiple Choice

Which of the following statements is true?

• A) The long-run aggregate supply (LRAS)curve shows the Real GDP the economy is prepared to supply at different price levels,assuming wage rates and all other resource prices have fully adjusted to eliminate a recessionary or inflationary gap.
• B) Laissez-faire is a government policy of raising aggregate demand in order to eliminate a recessionary gap.
• C) An economy can operate beyond its physical PPF,but not beyond its institutional PPF.
• D) If the economy is self-regulating,it is always in long-run equilibrium.
• E) a and c

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Definitions:

[H+]

Denotes the concentration of hydrogen ions in a solution, commonly associated with the acidity of a solution.

[H+]

Symbol denoting the concentration of hydrogen ions in a solution, indicative of its acidity.

HCl

Hydrochloric acid, a strong acid consisting of hydrogen and chlorine that is often used in industrial and laboratory settings.

K

The chemical symbol for potassium, a soft, silvery-white metal that is highly reactive with water.