Within the framework of the AD/AS model, in the long run, output
a. will exceed the economy's long-run capacity.
b. will be less than the economy's long-run capacity.
c. will converge toward the economy's long-run capacity.
d. must equal approximately 95 percent of the economy's long-run capacity.
C
Economics
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Which function of money allows consumers who are searching for a new car to compare the costs of different optional features of different cars in order to determine if they want the features or not?
a) Medium of exchange b) Unit of account c) Store of value d) Barter
Economics
Wants are
A) another term for needs. B) the things people would consume if they had unlimited incomes. C) the things people consume with their income. D) all the things people really need in order to live comfortably.
Economics