Long-run macroeconomic equilibrium is achieved when the money wage rate has adjusted so that employment is such that real GDP equals potential GDP
Indicate whether the statement is true or false
TRUE
Economics
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Which of the following is NOT true about a tariff?
A) It is a barrier to entry in a market. B) It leads to a natural monopoly. C) It is a tax. D) It affects imported goods.
Economics
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.
Economics