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:

Nation's Infrastructure

Refers to the fundamental facilities and systems serving a country, such as transportation, communication networks, water and power lines, and public institutions like schools and hospitals.

Facilities

Physical buildings, structures, and resources provided for a particular purpose, such as factories, offices, schools, or hospitals.

National Governments

The central governing bodies of a nation that are responsible for creating and enforcing laws, policies, and regulations, and managing the country's affairs.

Devalue Currencies

The intentional decrease in the value of a country's currency compared to other currencies, typically conducted by the government or central bank to adjust the country's trade balance.