Which of the Following Is an Example of a Sovereign

question 9

Multiple Choice

Which of the following is an example of a sovereign authority?

• A) A Bishop representing the Pope outside of Rome.
• B) A Member of Parliament who wins a democratic election.
• C) The king in a monarchy.
• D) The leader of an armed rebel group.

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Definitions:

Keynesian Range

A segment of the aggregate supply curve where output can increase without an increase in price levels, related to Keynesian economics theories.

Full Capacity

The maximum level of output that a company can sustain over a period without increasing long-term costs, often achieved by optimizing the use of resources.

Equilibrium GDP

The level of Gross Domestic Product where aggregate supply equals aggregate demand within an economy.

Full Employment GDP

The output level of an economy when all available resources are employed efficiently, corresponding to a situation with no cyclical unemployment.