The Long Run Aggregate Supply Curve Assumes That in the Long

question 157

Multiple Choice

The long run aggregate supply curve assumes that in the long run, the economy:

• A) does not experience supply shocks.
• B) has no unemployment.
• C) is at full employment.
• D) has no inflation.

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Definitions:

Risk-takers

Individuals who are willing to engage in behaviors or activities that involve a significant chance of loss or failure, often with the expectation of a potential reward.

Openness to Experience

A personality trait that reflects a person's willingness to seek out new experiences, entertain novel ideas, and display curiosity.

Big Five Model

A theory in psychology that describes personality traits across five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Creative

Characterized by the ability to conceive original ideas or solutions, often resulting in innovation or artistic expressions.