In Short-Run Equilibrium,it Is Always True That

question 102

Multiple Choice

In short-run equilibrium,it is always true that

• A) quantity demanded of Real GDP = quantity supplied of Real GDP = Natural Real GDP.
• B) quantity demanded of Real GDP > quantity supplied of Real GDP.
• C) quantity demanded of Real GDP = quantity supplied of Real GDP.
• D) a and b
• E) There is not enough information to answer the question.

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Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

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Labor Union

An organization formed by workers to protect their rights, improve working conditions, and negotiate wages and benefits with employers.

Union Shop

A workplace where employees are not required to join the union prior to being hired, but must join soon after they start their employment.