The position of the long-run aggregate supply curve corresponds to the economy's:
A. full-employment real GDP.
B. maximum possible level of employment.
C. natural level of personal consumption expenditure.
D. maximum possible level of personal consumption expenditures.
Answer: A
Economics
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In the long run, producers do not incur any fixed cost as all inputs are variable
Indicate whether the statement is true or false
Economics
The main function of the Federal Open Market Committee is
a. to control the printing of currency. b. to determine the path of tax rates. c. to use open market operations to control the nation's money supply. d. to create and issue bonds on behalf of the Treasury. e. to oversee economic activity in the various Federal Reserve districts.
Economics