The level of real GDP in the long run is called

In a perfectly competitive market, in the long run, arbitrage profits will be bid away

Indicate whether the statement is true or false

Some central banks pursue price stability before they pursue other goals. Which of the following central banks have this kind of hierarchical mandate?

i. Bank of England ii. Bank of Canada iii. European Central Bank iv. Federal Reserve (U.S.A.) A) i, ii, and iv only B) i and iii only C) i and iv only D) ii, iii, and iv only E) none of the above