At Full-Employment GDP

question 71

Multiple Choice

At full-employment GDP,

• A) the long-run aggregate demand curve is horizontal.
• B) the long-run aggregate demand curve is vertical.
• C) the long-run aggregate supply curve is horizontal.
• D) the long-run aggregate supply curve is vertical.

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Definitions:

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses in the market.

Expected

Refers to the anticipated outcome, value, or occurrence based on probability or prior evidence.

Increase

To become or cause to become greater in size, amount, number, or degree.

Consumer Incomes

The total amount of income received by consumers, influencing their purchasing power and demand for goods and services.