In the Macroeconomic Long Run

question 127

Multiple Choice

In the macroeconomic long run

• A) real GDP equals potential GDP.
• B) the economy is at full employment.
• C) regardless of the price level, the economy is producing at potential GDP.
• D) All of the above are correct.

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Definitions:

Premature Decision

A conclusion or resolution made hastily or without full consideration of the consequences or alternatives.

Majority Opinions

The views or judgments held or expressed by the greater number of individuals within a particular group or community.

Conflicts

Conflicts are disputes or disagreements between individuals or groups that arise due to differing views, interests, or goals.

Privileged Motions

Special rules of order that take precedence over other motions and issues during a formal meeting or parliamentary procedure.