Question
A long run equilibrium: a. Long-run equilibrium could be at any of the above levels of output. b. Will be at a greater output level
A long run equilibrium:
a. Long-run equilibrium could be at any of the above levels of output.
b. Will be at a greater output level than the natural level of real output.
c. Will be at the natural level of real output.
d. Will be at a smaller output level than the natural level of real output.
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
