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:

Reinforcement

In psychology, a process by which a stimulus increases the probability of a preceding behavior by providing a reward or removing an unpleasant stimulus.

Constructive Personality Change

Positive transformations in one’s character or behavior patterns, facilitated by self-awareness, therapeutic interventions, or life experiences.

Person-centered Therapy

A therapeutic approach developed by Carl Rogers that emphasizes the importance of the therapist's congeniality, empathy, and unconditional positive regard towards the client.

Behavior Therapy

A type of psychotherapy that focuses on changing undesirable behaviors through conditioning techniques.