Multiple Choice
If the money wage rate has fully adjusted to any changes, the economy is
A) experiencing a recessionary gap.
B) experiencing an inflationary gap.
C) at its long- run macroeconomic equilibrium.
D) at a short- run macroeconomic equilibrium but not at a long- run macroeconomic equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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