We Can Say That the Potential Level of Real GDP

question 78

True/False

We can say that the potential level of real GDP is fixed because the long-run aggregate supply curve is a vertical line.

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Definitions:

Increase Side

The side of an account on which increases are recorded, depending on the type of account it could be the debit or credit side.

Right Side

In accounting, refers to the credit side of a ledger account, opposite to the left or debit side, showcasing the sources of funds or increases in liabilities or equity.

Decrease Side

The side of an accounting equation or ledger where decreases in assets, expenses, or dividends are recorded, often the credit side for assets and the debit side for liabilities and equity.

Asset Account

A category within the general ledger that reports the value of a company's assets such as cash, equipment, and property.