In the Aggregate Demand-Aggregate Supply Model, Long-Run Equilibrium Occurs at the Combination

question 107

Multiple Choice

In the aggregate demand-aggregate supply model, long-run equilibrium occurs at the combination of output and prices where:

• A) aggregate demand is greater than long-run aggregate supply.
• B) aggregate demand equals short-run aggregate supply.
• C) aggregate demand equals short-run and long-run aggregate supply.
• D) short-run aggregate supply equals long-run aggregate supply.

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Definitions:

Negative Reinforcement

A behavioral principle where the removal of an unpleasant stimulus strengthens or increases the likelihood of a desired response.

Pill

A small, round, solid pharmaceutical oral dosage form of medication that can contain various active ingredients.

Pain

A distressing sensation and emotional experience linked to tissue damage or described in terms of such damage.

Positive Punishment

A behavior modification technique where an undesirable behavior is followed by an unpleasant stimulus to decrease the likelihood of the behavior's recurrence.