Because the Open-Economy Macroeconomic Model Focuses on the Long Run

question 277

Multiple Choice

Because the open-economy macroeconomic model focuses on the long run, it is assumed that

• A)GDP, but not the price level is given.
• B)the price level, but not GDP is given.
• C)both the price level and GDP are given.
• D)the price level and GDP are variables to be determined by the model.

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Definitions:

Receiver

A receiver is a device or person that gets or accepts something that has been sent or communicated.

Body Language

Non-verbal communication through body movements, gestures, and facial expressions.

Interference

Disturbance or obstruction of processes, signals, or activities, often leading to a decrease in performance or quality.

Negative Communication

Exchange of information laden with negative emotions, misunderstandings, or conflicts.