If All Prices Adjusted Immediately to Balance the Quantities Supplied

question 13

Multiple Choice

If all prices adjusted immediately to balance the quantities supplied and demanded for all goods and services:

• A)output gaps would not exist.
• B)output gaps would be positive more often than they would be negative.
• C)cyclical unemployment would be positive.
• D)potential GDP would rise much more quickly.

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Definitions:

Mortgaged Property

Real estate that is secured by a mortgage loan, meaning the lender has the right to seize the property if the borrower fails to make payments.

Standardized National Test

A uniform test administered across a nation to assess the academic abilities or achievements of students in certain grades or levels.

No Child Left Behind Act

A 2001 U.S. Act of Congress that aimed to improve student achievement and change the culture of America's schools through increased accountability for schools, greater choice for parents and students, and more flexibility for states.

Scholarship Academies

Educational institutions or programs specifically designed to support academically gifted students, often through financial scholarships and rigorous curricula.