The Level of Real GDP in the Long Run Is

question 283

Multiple Choice

The level of real GDP in the long run is called

• A)potential GDP.
• B)short-run GDP.
• C)frictional GDP.
• D)low-capacity GDP.

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Definitions:

Diversity-of-Citizenship

Diversity-of-Citizenship is a legal concept in U.S. federal court jurisdiction, referring to cases where parties are citizens of different U.S. states or a foreign country.

Federal District Court

A general trial court in the United States federal court system that handles both civil and criminal cases.

Citizens

Individuals legally recognized as members of a state or country, entitled to rights and subject to its laws.

Exclusive Jurisdiction

The sole authority of a particular court to hear and decide on cases within a specific area of law or geographic location, barring other courts from involvement.