If Full-Employment GDP Is Equal to $4

question 48

Multiple Choice

If full-employment GDP is equal to $4.2 trillion,what does the long-run aggregate supply curve look like?

• A)It is a horizontal line at $4.2 trillion of GDP.
• B)It is a vertical line at a level of GDP below $4.2 trillion.
• C)It is a vertical line at $4.2 trillion of GDP.
• D)It is a vertical line at a level of GDP above $4.2 trillion.

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Definitions:

Iterative Method

A procedure or technique in computing that involves repeating a set of operations until a specific condition is met.

Limiting Condition

A condition or set of conditions that restricts the domain or range of a function or algorithm, often used to prevent errors or infinite loops.

Number of Elements

This term refers to the total count of items in a given set or collection.

Recursive Implementation

Recursive implementation involves solving a problem by having a function call itself as a subroutine, breaking down the problem into smaller, more manageable tasks.