(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:

The Poor

Individuals or groups who lack the financial resources to meet a minimum level of living standards considered acceptable in a society.

Exclusively

Limited to only the specified subject, item, or person; not involving anything or anyone else.

Medicaid

Medicaid is a government-funded program in the United States providing health care coverage to people with low income, including some low-income adults, children, pregnant women, elderly adults, and people with disabilities.

The Poor

Refers to individuals or groups who lack the financial resources to meet basic living standards considered acceptable in a society.