Short-Run Macroeconomic Equilibrium Always Occurs When the

question 108

Multiple Choice

Short-run macroeconomic equilibrium always occurs when the

• A)economy is at full employment.
• B)economy is below full employment.
• C)economy is above full employment.
• D)quantity of real GDP demanded equals the quantity of real GDP supplied.
• E)AD curve intersects the LAS curve.

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Definitions:

Cost Structure

An outline of the types and relative proportions of fixed and variable costs that a business incurs in its operations.

Outsourced Activities

Business processes or tasks that are contracted out to an external provider, often to reduce costs, access specialized expertise, or improve efficiency.

Expensive Resources

Resources that have a high cost associated with them, either due to their scarcity, quality, or the demand for them.

Automobile Manufacturer

A company that produces and sells cars, trucks, and other vehicles to consumers worldwide.