If Short-Run Equilibrium Output Is Above Full-Employment Output,then in the Long

question 78

Multiple Choice

If short-run equilibrium output is above full-employment output,then in the long run input prices will

• A) decrease and output will increase.
• B) increase and output will be unaffected.
• C) increase and short-run aggregate supply will increase.
• D) increase and output will fall.
• E) decrease and output will fall.

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Definitions:

Spiders

Arachnids characterized by their eight legs, chelicerae with fangs that inject venom, and the ability to spin webs.

Insecticides

Chemical substances used to kill insects, often utilized in agriculture and pest control to protect plants and crops from insect infestations.

Botanicals

Plant parts or extracts used in the pharmaceutical, food, and cosmetics industry for their medicinal or aromatic properties.

Carbamates

A group of organic compounds derived from carbamic acid, used in pesticides and pharmaceuticals.