The Level of Aggregate Output Is Determined in the Short

question 51

Multiple Choice

The level of aggregate output is determined in the short run by but in the long run by the level of .

• A)the output gap; factor productivity
• B)the AD and AS curves; Y*
• C)the AS curve; potential output
• D)the AD curve; interest rates
• E)the AD and AS curves; factor utilization

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Definitions:

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The state of being free from moral fault or corruption, often emphasized in religious or ethical contexts.

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The 26th President of the United States, known for his foreign policy, conservation efforts, and progressive reforms.

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