Which of the following correctly describes the macroeconomic long run?
a. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied equals the potential output level, and aggregate demand equals aggregate supply.
b. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied exceeds or falls short of the potential output level, and aggregate demand equals aggregate supply.
c. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied equals the potential output level, and aggregate demand exceeds or falls short of aggregate supply.
d. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied exceeds or falls short of the potential output level, and aggregate demand exceeds or falls short of aggregate supply.
a
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Today, Walt Disney World charges different customers different prices for admission. This pricing strategy is called
A) odd pricing. B) arbitrage. C) cost-price pricing. D) price discrimination.
Economic variables that tend to move in tandem with the overall phases of the business cycle are called leading indicators
Indicate whether the statement is true or false