In the Long Run,what Determines the Level of Output

question 54

Multiple Choice

In the long run,what determines the level of output?

• A) the money supply
• B) the price level
• C) supply of capital and labour
• D) policies aimed at stabilizing the economy

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Definitions:

Rules

Prescribed guidelines or instructions that govern actions or behavior within a specific context, often established to maintain order, safety, or fairness.

Long-range Planning

The process of setting long-term goals and determining the strategies to achieve them, typically looking several years into the future.

Top-level Managers

Executives who are responsible for overseeing the entire organization and establishing its overall goals and strategies.

Management Levels

The different layers of authority within an organization, typically including top-level (executive), middle-level, and lower-level (operational) management.