The Long-Run Aggregate Supply Curve Uses the Classical Assumptions That

question 61

Multiple Choice

The long-run aggregate supply curve uses the classical assumptions that all variables are _____ in the long run and that long-run equilibrium occurs at _____.

• A) flexible; full employment
• B) flexible; less than full employment
• C) fixed; less than full employment
• D) fixed; full employment

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Definitions:

Social Support System

A network of family, friends, and peers that offer emotional, informational, and practical assistance to individuals.

Stressors

Events that cause a stress reaction.

Separation

The process or state of being apart from someone or something; in psychology, it can refer to emotional detachment or physical distance between individuals.

Majority Culture

The dominant cultural practices, beliefs, and values of the larger or ruling group in a given society.