In the Macroeconomic Long Run

question 18

Multiple Choice

In the macroeconomic long run,

• A) real GDP equals potential GDP.
• B) regardless of the price level, the economy is producing at potential GDP.
• C) the economy is at full employment.
• D) All of the above are correct.

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Definitions:

Pulsatile Pattern

Refers to rhythmic variations or fluctuations that occur at regular intervals, often seen in biological processes such as hormone secretion or heartbeats.

Released

The act of making something available to the public or freeing something from confinement or obligation.

Hormones

Chemical messengers produced by the endocrine glands that regulate various bodily functions, including growth, metabolism, and mood.

By the Bloodstream

Refers to the process or means by which substances are transported throughout the body via the circulatory system.