The Level of Real GDP Identified by the Long-Run Aggregate

question 58

Multiple Choice

The level of real GDP identified by the long-run aggregate supply curve is

• A) the full-employment level of real GDP.
• B) the level of GDP at which each business firm is experiencing growth in sales.
• C) the level of GDP at which each industry is experiencing growth in sales.
• D) the level of GDP at which no one is below the poverty line.

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Definitions:

Reasonable Apprehension

A perception or fear of bias or prejudice that appears fair or sensible to an unbiased observer.

Bias

A preconceived opinion or inclination that is not based on reason or actual experience, leading to unfair judgments or decisions.

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