The system of trade rounds under GATT and the WTO has been successful at creating trade rules and reducing trade barriers

If a good is free, people will continue to increase consumption until total utility is equal to zero

Indicate whether the statement is true or false

In the extended aggregate demand-aggregate supply model:

A. long-run equilibrium occurs wherever the aggregate demand curve intersects the short-run aggregate supply curve. B. the long-run aggregate supply curve is horizontal. C. the price level is the same regardless of the location of the aggregate demand curve. D. long-run equilibrium occurs at the intersection of the aggregate demand curve, the short- run aggregate supply curve, and the long-run aggregate supply curve.