In the Long Run, Total National Output

question 49

Multiple Choice

In the long run, total national output:

• A) is not impacted by the price level.
• B) has a positive relationship with the price level.
• C) has a negative relationship with the price level.
• D) varies widely at a fixed, given price level.

---

Definitions:

Paid

A status indicating that a financial obligation or debt has been fulfilled.

Voidable

Describes a legal agreement that may be declared invalid by one of the parties due to specific conditions such as fraud, coercion, or incapacity.

Minors

Individuals who are under the age of legal competence or adulthood, typically under 18 years old.

Purchase

The act of acquiring goods or services in exchange for money or other consideration.