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.
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
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Frictional unemployment describes
A. recent entrants, re-entrants, and voluntary quits who require only a short time to find new employment. B. the growing number of job seekers whose absence of skills makes them unemployable in any line of work except unskilled, dead-end jobs. C. the loss of jobs resulting from periods of recession. D. extended periods of unemployment during which retraining for new jobs occurs. E. seasonal layoffs and periods without work, such as construction and public school teaching.