In the Long-Run Aggregate Demand-Aggregate Supply Model

question 60

Multiple Choice

In the long-run aggregate demand-aggregate supply model:

• A)long-run equilibrium occurs wherever the aggregate demand curve intersects the short-run aggregate supply curve.
• B)the long-run aggregate supply curve is horizontal.
• C)the price level is the same regardless of the location of the aggregate demand curve.
• D)long-run equilibrium occurs at the intersection of the aggregate demand curve, the short-run aggregate supply curve, and the long-run aggregate supply curve.

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Definitions:

Mineralocorticoids

A type of steroid hormone that regulates salt and water balances in the body.

Electrolyte Balances

The levels of minerals in the body that have an electric charge, crucial for nerve and muscle function, hydration, blood pH, and other processes.

Sodium

A chemical element (symbol Na) that is highly reactive and essential for nerve and muscle function in the human body, commonly found in salt.

Kidney Tubules

The small tubes in the kidneys where reabsorption and secretion occur, playing a crucial role in the formation of urine.