Graphically, Long-Run Equilibrium Occurs at the Intersection of the Aggregate

question 46

Multiple Choice

Graphically, long-run equilibrium occurs at the intersection of the aggregate demand curve and:

• A)the aggregate supply curve and potential output.
• B)the planned aggregate expenditure line.
• C)the aggregate supply curve.
• D)potential output.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives.

Determinants Of Productivity

Factors that influence the output that an individual, company, or economy can produce with a given amount of input, such as technology, human capital, and innovation.

Ife Figures

Ancient artistic sculptures from the Yoruba city of Ife, in present-day Nigeria, celebrated for their sophisticated realism and craftsmanship.

Yoruba Kingdom

Refers to the historical kingdoms of the Yoruba people in West Africa, known for their rich cultural heritage, art, and significant influence in the region pre-colonization.