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

question 55

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 _____ employment.

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

---

Definitions:

Aliens

In legal and immigration contexts, refers to individuals who are not citizens or nationals of the country in which they reside.

Documented

Something that is supported or proven by the presence of written information or records.

Honeymoon Phase

An initial period of enthusiasm or optimism in a new project, relationship, or situation.

Community

A group of people living in the same place or having a particular characteristic in common, or a feeling of fellowship with others sharing common attitudes, interests, and goals.