The Level of Real GDP in the Long Run Is

question 59

Multiple Choice

The level of real GDP in the long run is

• A)potential GDP.
• B)affected by changes in the price level.
• C)determined solely by aggregate demand.
• D)the same as the level of nominal GDP in the long run.

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Definitions:

Performance Standards

Specified criteria that set the expectations for the functionality and effectiveness of a product, service, or system.

NAFTA Highways

A network of highways in North America designed to promote and facilitate trade and mobility between NAFTA member countries: the United States, Canada, and Mexico.