(I)If Long-Run Equilibrium Is Present in the Goods and Services

question 15

Multiple Choice

(I) If long-run equilibrium is present in the goods and services market,the current price level will equal the price level buyers and sellers anticipated.
(II) When an economy is in long-run equilibrium,the actual rate of unemployment will equal the natural rate of unemployment.

• A)Both I and II are true.
• B)Both I and II are false.
• C)I is true;II is false.
• D)I is false;II is true.

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Definitions:

Mentoring

A relationship in which a more experienced or knowledgeable person helps to guide a less experienced or less knowledgeable person.

Professional Behavior

Conduct or actions that are appropriate and expected in the workplace, characterized by respect, competence, and adherence to ethical standards.

Self-Talk

Internal dialogue, consisting of thoughts or verbalizations that individuals have with themselves.

High Self-Esteem

A positive view of oneself, characterized by confidence in one's abilities, worth, and value.