Long-Run Macroeconomic Equilibrium Occurs When

question 240

Multiple Choice

Long-run macroeconomic equilibrium occurs when

• A)aggregate demand equals short-run aggregate supply.
• B)aggregate demand equals short-run aggregate supply and they intersect at a point on the long-run supply curve.
• C)structural and frictional unemployment equals zero.
• D)output is above potential GDP.
• E)there is no pressure on the price level to change.

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Definitions:

Improper Threats

Coercive actions or statements intending to force someone into an agreement or decision against their will, often considered unlawful.

Mistake

An error or misunderstanding that can impact the validity of a contract or agreement.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, regarding their rights and responsibilities.

Assertion

A confident and forceful statement of fact or belief, commonly used in argument or discourse.