The Conditions for Long-Run Equilibrium Include Each of the Following

question 44

Multiple Choice

The conditions for long-run equilibrium include each of the following, except:

• A) imports equal exports.
• B) current inflation is steady and equals target inflation.
• C) current output equals potential output.
• D) current inflation equals expected inflation.

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Definitions:

Department of Agriculture

A government body responsible for developing and executing policies on farming, agriculture, and food.

African-Americans

A racial or ethnic group in the United States with ancestry from any of the black racial groups of Africa.

Lives in Poverty

The condition of individuals or families whose income falls below the necessary level to maintain basic living conditions.

Official Poverty Line

A government-determined threshold indicating the minimum level of income required to sustain a basic level of living.