In the Long Run

question 118

Multiple Choice

In the long run,

• A)GDP > potential GDP.
• B)unemployment is at its natural rate.
• C)LRAS and SRAS lie on the same line.
• D)the inflation rate is zero.
• E)the aggregate demand curve becomes flat.

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Definitions:

Slander Of Title

An untrue statement about the right of another to the ownership of goods.

Passing-Off

A tort in common law used to enforce unregistered trademark rights wherein one party is misled into believing that the goods or services of one are the goods or services of another.

Misappropriation

The unauthorized, improper, or unlawful use of funds or other property for purposes other than those intended by the rightful owner.

Limitation Period

The time frame within which a legal claim must be filed, after which the claim is barred and cannot be pursued.