In Short-Run Macroeconomic Equilibrium

question 5

Multiple Choice

In short-run macroeconomic equilibrium

• A) real GDP equals potential GDP and aggregate demand determines the price level.
• B) real GDP and the price level are determined by short-run aggregate supply and aggregate demand.
• C) the price level is fixed and short-run aggregate supply determines real GDP.
• D) real GDP is less than potential GDP.

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Definitions:

L-Leucine

An essential amino acid used by the body in protein synthesis and various metabolic processes.

Aqueous Solution

An Aqueous Solution is any solution in which water (H2O) acts as the solvent.

pH

A scale used to specify the acidity or basicity of an aqueous solution, with values ranging from 0 to 14.

Alkyl Group

A group of atoms derived from an alkane, containing only carbon and hydrogen atoms, arranged in a chain.