Use the Following to Answer Questions

question 144

Multiple Choice

Use the following to answer questions :
Exhibit: Short Run to Long Run
-(Exhibit: Short Run to Long Run) Based on the graph, if the economy starts from a short-term equilibrium at D, then the long-run equilibrium will be at ____ with a _____ price level.

• A) B; higher
• B) B; lower
• C) C; higher
• D) C; lower

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Definitions:

Superposition

A principle in geology stating that in an undeformed sequence of sedimentary rocks, each layer is older than the one above it and younger than the one below it.

Cross-Cutting Relations

The principle that a geologic unit or feature is older than a rock or feature that crosscuts it.

Igneous Intrusion

The process where magma from the Earth's mantle cuts through or intrudes into the Earth's crust, eventually cooling and solidifying to form igneous rock.

Cross-Cutting Relations

A principle in geology that an igneous intrusion or fault must be younger than the rocks it intrudes or displaces.