Macroeconomic Equilibrium in the Short Run Always Occurs at Full-Employment

question 51

True/False

Macroeconomic equilibrium in the short run always occurs at full-employment GDP.

---

Definitions:

Computer Chip

A small piece of semiconducting material, typically silicon, on which an integrated circuit is embedded.

Presale Testing

The evaluation of products or services before they are made available for sale to assess their market potential and customer response.

Probability

The likelihood of an event occurring, depicted as a number anywhere between 0 and 1.

Manic-depressive Illness

A bipolar disorder marked by extreme mood swings, including episodes of mania and depression, affecting a person's energy and functionality.