Equilibrium in the Long Run Occurs When

question 43

Multiple Choice

Equilibrium in the long run occurs when

• A) AD intersects the short-run AS, regardless of output level.
• B) AD intersects the short-run AS, regardless of price level.
• C) AD intersects the short-run and the long-run AS curves at the same point.
• D) the short-run AS curve intersects the long-run AS curve.

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Definitions:

Retroperitoneal

Behind the peritoneum.

Duodenum

The first section of the small intestine, following the stomach, where initial absorption of nutrients occurs.

Ascending Colon

Portion of the colon between the small intestine and the right colic flexure.

Falciform Ligament

Fold of peritoneum extending to the surface of the liver from the diaphragm and anterior abdominal wall.