Within the Framework of the AD/AS Model, in the Long

question 73

Multiple Choice

Within the framework of the AD/AS model, in the long run, output

• A) will exceed the economy's long-run capacity.
• B) will be less than the economy's long-run capacity.
• C) will converge toward the economy's long-run capacity.
• D) must equal approximately 95 percent of the economy's long-run capacity.

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Definitions:

Young Age

A term used to describe the early period of a person or animal's life, often characterized by rapid physical and psychological development.

Want Children

The desire or inclination of individuals or couples to have offspring.

Remarriages

The act of marrying again after a previous marriage has ended, either by divorce or the death of a spouse.

Cohabitation

Sharing a living space and a romantic relationship without the legal or religious ceremony of marriage.