If Full-Employment GDP Is Equal to $1

question 170

Multiple Choice

If full-employment GDP is equal to $1.9 trillion and the current price level is 130, what does the long-run aggregate supply curve look like?

• A)It is a horizontal line at 130 of real GDP.
• B)It is a vertical line at a level of real GDP below $1.9 trillion.
• C)It is a vertical line at $1.9 trillion of real GDP.
• D)It is a vertical line at a price level of 130.
• E)It is a horizontal line at a price level of 130.

---

Definitions:

LLC Statutes

Legal regulations governing the formation, operation, and dissolution of Limited Liability Companies.

Mergers

The combination of two or more companies into a single legal entity, often to achieve greater efficiency or market share.

Surviving LLC

A term used to describe a limited liability company that continues to exist after a merger or consolidation, absorbing the assets and liabilities of the other entity.

LLC

Limited Liability Company; a business structure in the United States that protects its owners from personal responsibility for its debts or liabilities.