An Increase in Aggregate Demand Will Have a Smaller Long-Run

question 7

Multiple Choice

An increase in aggregate demand will have a smaller long-run effect on real GDP if the:

• A)aggregate demand curve is flat.
• B)short-run aggregate supply curve is horizontal.
• C)economy is well below potential output.
• D)economy is already at potential output.
• E)aggregate demand curve is fairly steep.

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Definitions:

Genetic Structure

Genetic structure refers to the distribution of genetic variation within and between populations, often shaped by processes like migration, selection, and genetic drift.

Spatial Variation

The differences in the distribution or arrangement of a particular characteristic across different locations or areas.

Homozygotes

Individuals having two identical alleles for a specific gene, resulting in the expression of that genetic trait.

Negative Frequency-Dependent Selection

Negative frequency-dependent selection occurs when rare genotypes have a fitness advantage simply because they are rare, helping to maintain genetic diversity within populations.