In the Long Run ________

question 3

Multiple Choice

In the long run ________.

• A)the aggregate supply is vertical with respect to unemployment
• B)the Phillips curve is vertical at a given level of expected inflation
• C)the economy reaches the potential output level consistent with the natural rate of unemployment
• D)all of the above
• E)none of the above

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Definitions:

Intentions

Plans or objectives that a person intends to accomplish or bring about.

Cognitive Maturity

The level at which an individual's thinking processes have developed, including the ability to reason, understand complex ideas, and learn from experience.

Anticipates Consequences

The act of foreseeing or predicting the outcomes or results of a particular action or decision.

Manager

An individual responsible for controlling or administering an organization or group of staff.