The Study of the Long Run in Macroeconomics Focuses

question 68

Multiple Choice

The study of the long run in macroeconomics focuses

• A)on changes to actual GDP but not on changes in potential GDP.
• B)equally on potential GDP and actual GDP.
• C)primarily on changes to potential GDP.
• D)primarily on changes to the output gap,with a constant level of potential output.
• E)solely on the supply of factors of production.

---

Definitions:

Oral Agreement

A verbal contract in which the terms have been agreed upon through spoken communication, as opposed to written, but is still legally binding in some cases.

Perfection

In legal finance, the process of securing an interest in collateral, ensuring a lender's rights are prioritized over others in the event of borrower default.

Attachment

The legal process of seizing a defendant's property to ensure satisfaction of a judgment.

Public Notice

An official announcement made to the public through common communication channels.