(I)If Long-Run Equilibrium Is Present in the Goods and Services

question 15

Multiple Choice

(I) If long-run equilibrium is present in the goods and services market,the current price level will equal the price level buyers and sellers anticipated.
(II) When an economy is in long-run equilibrium,the actual rate of unemployment will equal the natural rate of unemployment.

• A)Both I and II are true.
• B)Both I and II are false.
• C)I is true;II is false.
• D)I is false;II is true.

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Definitions:

ESOPs

Employee Stock Ownership Plans, programs that provide a company's workforce with an ownership interest in the company.

Stock Certificates

Physical documents that represent ownership of a particular number of shares in a corporation.

Semi-permanent

Referring to something not designed to last indefinitely but also not intended for quick disposal or replacement; having a medium-term duration.

Work

The exertion of effort towards achieving a goal, often associated with professional or employment activities but also applicable to tasks and responsibilities.