In the Long Run,the Price Level in an Economy Is

question 75

Multiple Choice

In the long run,the price level in an economy is determined solely by:

• A)the long-run aggregate supply curve.
• B)the aggregate demand curve.
• C)the amount of cyclical unemployment in the economy.
• D)the short-run aggregate supply curve.
• E)the potential output level.

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Definitions:

Sale of Goods

A transaction involving the transfer of tangible personal property from seller to buyer, under terms and conditions outlined in a contract.

Completed

Refers to the state of having finished an activity or project.

Title

The legal right to own or possess something, such as property or a vehicle, often represented by a document proving ownership.

Deposit

A sum of money placed with a bank or other financial institution for safekeeping, or as partial payment in a purchasing process ensuring the buyer's intent to carry out the contract.