In the Long Run

question 85

Multiple Choice

In the long run

• A)GDP = potential GDP.
• B)unemployment is below its natural rate.
• C)LRAS and SRAS lie on the same line.
• D)unemployment is above its natural rate.

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Definitions:

Equity

The value of an ownership interest in property, including shareholders' equity in a company, which represents the amount of money that would be returned to shareholders if all the assets were liquidated and all the company's debt was paid off.

Voice

A concept referring to the means by which employees can express concerns, grievances, or suggestions within the workplace.

Solidarity Unionism

A form of unionism that emphasizes the direct action and self-organization of workers, rather than formal recognition through collective bargaining agreements.

Servicing Model

A union strategy focused on providing services and support to members, such as legal assistance, rather than relying heavily on collective action.