If an Economy Is at Its Potential Output Level,which of the Following

question 201

Multiple Choice

If an economy is at its potential output level,which of the following is not true?

• A)The economy is at its full-employment output level.
• B)Unemployment is at the natural level.
• C)The price level is zero.
• D)The output level being produced can be sustained indefinitely given the economy's resources and technology.
• E)The only unemployment is frictional,structural,or seasonal.

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Definitions:

Personal Defense

Refers to the actions and strategies employed by an individual to protect themselves from harm or danger.

Disaffirm

In contract law, to indicate by a statement or act an intent not to live up to the terms of the contract.

Real Defense

A defense in law that allows a promissory note or negotiable instrument to be invalidated based on factors like fraud or forgery.

Holder in Due Course

A legal term describing someone who has acquired a negotiable instrument (like a check) in good faith and without knowledge of any defects.