Multiple Choice
Use the following to answer questions.
Exhibit: Aggregate Production Function, Labor Market, and LRAS 
-(Exhibit: Aggregate Production Function, Labor Market, and LRAS) The labor market represented in Panel (b) is in long-run equilibrium
A) if it is operating at the natural level of employment.
B) if unemployment rate equals zero.
C) if the macroeconomy is in equilibrium.
D) if there are no diminishing marginal returns.
Correct Answer:
Verified
Correct Answer:
Verified
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