Which of the Following Statements Is Correct for the Long

question 78

Multiple Choice

Which of the following statements is correct for the long run?

• A)Output is determined by the amount of capital,labor,and technology;the interest rate adjusts to balance the supply and demand for money;the price level adjusts to balance the supply and demand for loanable funds.
• B)Output is determined by the amount of capital,labor,and technology;the interest rate adjusts to balance the supply and demand for loanable funds;the price level adjusts to balance the supply and demand for money.
• C)Output is determined by the amount of capital,labor,and technology;the interest rate adjusts to balance the supply and demand for loanable funds;the price level is relatively slow to adjust.
• D)Output responds to the aggregate demand for goods and services;the interest rate adjusts to balance the supply and demand for loanable funds;the price level adjusts to balance the supply and demand for money.

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Definitions:

Congress of Industrial Organizations

A federation of unions that organized workers in industrial unions in the United States and Canada from 1935 to 1955, when it merged with the American Federation of Labor.

Steel Industry

A crucial global industry involved in the production and manufacturing of steel, a critical material used in construction, automotive, and other sectors.

Knights of Labor

A significant 19th-century labor organization in the United States that aimed to promote workers' rights.

Resistance Point

In negotiations, the resistance point is the worst outcome that a party is willing to accept before walking away from the negotiation table.