In the Long Run

question 85

Multiple Choice

In the long run

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

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Definitions:

Manufacturer

An entity or company that makes goods for sale through the process of manufacturing.

Net Income

The amount of profit that remains after all operating expenses, taxes, and interest have been deducted from total revenue.

Random Variable

A variable that can take on different values randomly, subject to a certain probability distribution.

Net Income

The amount of money a company earns after deducting all its expenses, taxes, and costs from its total revenue.