When the Actual GDP Equals the Full-Employment Level of GDP

question 49

Multiple Choice

When the actual GDP equals the full-employment level of GDP, the

• A) economy is in long-run equilibrium.
• B) price level must be rising.
• C) expected inflation must be zero.
• D) aggregate supply curve is not constrained by the scarcity of resources.

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Definitions:

Marketing Strategies

Plans of action designed to promote and sell a product or service by identifying target markets and developing a mix of marketing tactics to reach them.

Accomplished

Refers to successfully achieving a goal or completing a task to a high standard.

Marketing

What the marketing efforts of a business are intended to accomplish and how.

Market Research

The process of gathering, analyzing, and interpreting information about a market, including information about potential customers, competitors, and the industry as a whole.