In the Long-Run

question 385

Multiple Choice

In the long-run

• A) real GDP is equal to potential GDP.
• B) the aggregate supply curve is upward sloping.
• C) aggregate supply depends on the price level.
• D) All of the above answers are correct.

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Definitions:

Virginia Slaves

Enslaved African Americans who lived and worked in Virginia, historically one of the original thirteen colonies in the United States.

Thomas Jefferson

Thomas Jefferson was the third President of the United States, a Founding Father, and the principal author of the Declaration of Independence.

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Military officers in the British Army who have achieved the rank of general, responsible for commanding units, formulating strategy, and overseeing operations.

Military Expedience

Actions or strategies that are chosen for their practicality and speed in achieving military objectives, often without regard for ethics or norms.