Long-Run Macroeconomic Equilibrium Occurs When

question 205

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.

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Definitions:

Unsecured Loan

A loan that is issued and supported only by the borrower's creditworthiness, without the need for collateral.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered or used but not yet paid for.