In Long-Run Macroeconomic Equilibrium

question 214

Multiple Choice

In long-run macroeconomic equilibrium

• A) short-run aggregate supply (SAS) equals aggregate demand (AD).
• B) the price level is stable.
• C) real GDP equals potential GDP.
• D) Say's Law is true.
• E) all of the above are true.

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Definitions:

Apical Meristem

Meristem in the tip of a shoot or root; gives rise to primary growth (lengthening) in plants.

Lateral Meristem

Vascular cambium or cork cambium; cylindrical sheet of meristem that runs lengthwise through a plant’s shoots and roots; gives rise to secondary growth (thickening).

Primary

This indicates the first or highest in rank or importance, often used to describe basic or initial levels of education, stages of disease, or processing.

Mesophyll

The internal tissue of a leaf, containing cells with chloroplasts where photosynthesis occurs.