In the Long Run in the AD/AS Macro Model We

question 136

Multiple Choice

In the long run in the AD/AS macro model we can say that

• A)both real GDP and the price level are determined by aggregate demand.
• B)both real GDP and the price level are determined by Y*.
• C)long-run real GDP is determined by Y* and the long-run price level by the AD curve.
• D)real GDP is determined by aggregate demand and the price level by Y*.
• E)long-run real GDP is determined by aggregate demand and the price level is determined solely by the AS curve.

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