The quantity of real GDP rises with the price level, ceteris paribus

Which of the following is true when an economy is in long-run equilibrium? a. Actual output can exceed potential output

b. Potential output can exceed actual output. c. Actual output must equal potential output. d. Real GDP must equal nominal GDP. e. Expected price level can exceed actual price level.

Foreign outsourcing of service is commonly seen in economies that possess the skills and equipment required to produce those services for themselves

Indicate whether the statement is true or false