In the Long Run

question 171

Multiple Choice

In the long run

• A) real GDP = potential GDP.
• B) unemployment is below its natural rate.
• C) the LRAS and SRAS lie on the same line.
• D) unemployment is above its natural rate.

---

Definitions:

Correlation Analyses

Statistical methods used to determine the relationship and strength between two or more variables.

Normal Curve

A bell-shaped curve that represents the distribution of a set of data where most occurrences take place in the middle of the range.

Correlational Analyses

Statistical methods used to determine if there is a relationship between two or more variables and the strength of that relationship.

Mental Abilities

Cognitive functions and processes related to the mind, such as perception, memory, logic, and problem-solving skills.