If the Economy Is Simultaneously in Long-Run and Short-Run Equilibrium

question 100

Multiple Choice

If the economy is simultaneously in long-run and short-run equilibrium, which of the following is true?

• A) Aggregate quantity supplied is greater than potential output.
• B) Aggregate quantity demanded is less than potential output.
• C) Aggregate quantity demanded is equal to potential output.
• D) The aggregate demand curve is horizontal at the potential output level.

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Definitions:

Flexible Work Arrangements

Work setups that allow variations in working hours, locations, and schedules to accommodate the needs of employees.

Private Self

The actual person an individual may be.

Alternative Self

An envisioned version of oneself that represents different choices, paths, or outcomes in life, often used in self-reflection or goal setting.

Self-evaluation

The process of reflecting on and assessing one's own abilities, performance, and characteristics.