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Which of the following statements is the most accurate? An economy's long-run equilibrium is a.the equilibrium that would occur if prices were flexible and always
Which of the following statements is the most accurate?
An economy's long-run equilibrium is
a.the equilibrium that would occur if prices were flexible and always adjusted immediately to preserve full employment.
b.the equilibrium that would occur if interest rates were flexible.
c.the equilibrium that would occur if prices were flexible but not adjusted immediately.
d.the equilibrium that would occur if interest rates were fixed to preserve full employment.
e.the equilibrium that would occur if prices were fixed at the full employment point.
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