Suppose the Economy Is in Long-Run Equilibrium

question 55

Multiple Choice

Suppose the economy is in long-run equilibrium.If there is an increase in the supply of labor as well as an increase in the money supply,then we would expect that in the short-run,

• A)real GDP will rise and the price level might rise,fall,or stay the same.
• B)real GDP will fall and the price level might rise,fall,or stay the same.
• C)the price level will rise,and real GDP might rise,fall,or stay the same.
• D)the price level will fall,and real GDP might rise,fall,or stay the same.

Grasp the distinction between sample size and population size, and the implications for statistical analysis.

Recognize the principles of statistical inference and its application in interpreting sample data to make generalizations about a population.

Identify appropriate scales of measurement for quantitative data.

Differentiate between census, sample, and population in the context of data collection.

---

Definitions:

Plane Joint

A type of synovial joint which allows only sliding or gliding movements where the articular surfaces are flat.

Cartilaginous Joint

A type of joint where the bones are joined by cartilage, allowing for limited movement.

Synchondroses

A type of cartilaginous joint where hyaline cartilage joins two bones together, often found in areas of growth in children.

Plantar Flexion

A movement that involves the bending of the foot downwards at the ankle, pointing the toes away from the shin.