When Does Long-Run Macroeconomic Equilibrium Occur

question 118

Multiple Choice

When does long-run macroeconomic equilibrium occur?

• A)When aggregate demand equals short-run aggregate supply and they intersect at a point on the long-run supply curve.
• B)When aggregate demand equals short-run aggregate supply.
• C)When unemployment equals zero.
• D)When output is above potential GDP.

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Definitions:

Amine

An organic compound derived from ammonia; characterized by the presence of a nitrogen atom bonded to carbon atoms.

Boiling Point

The specific temperature at which a liquid changes to gas at a given pressure, indicative of a substance's volatility.

Compounds

Substances made up of two or more elements chemically combined in fixed ratios, often resulting in properties different from the constituent elements.

Trimethylaziridine

A chemical compound characterized by a three-membered ring structure containing nitrogen and three methyl groups.