Which of the Following Is True in the Long Run

question 48

Multiple Choice

Which of the following is true in the long run?

• A)The aggregate supply curve is the key determinant of the level of potential output.
• B)The long-run aggregate supply curve is horizontal.
• C)The actual price level is less than the expected price level.
• D)Cyclical unemployment is between 5 percent and 6 percent.
• E)The price level is determined entirely by the long-run aggregate supply curve.

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values.

Variation

The occurrence of differences or deviations within a population, which can be genetic, phenotypic, or behavioral, among individuals or groups.

Median

A statistical measure that represents the middle value in a dataset, where half the numbers are above and half are below.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution. It aims to provide an accurate description of the entire dataset.