The Level of Real GDP in the Long Run Is

question 152

Multiple Choice

The level of real GDP in the long run is

• A)called potential GDP.
• B)affected by changes in the price level.
• C)determined solely by aggregate demand.
• D)the same as the level of nominal GDP in the long run.

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Definitions:

US$1.00

The monetary unit equal to one United States dollar, the official currency of the United States of America.

C$ Weakens

When the Canadian dollar decreases in value compared to another currency, making it less valuable in foreign exchange markets.

€0.0211

A monetary value representing a little over two cents in Euro currency.

C$ Per €

The exchange rate showing how many Canadian dollars (C$) you need to purchase one Euro (€).