Multiple Choice
When the economy is in a boom, the intersection between the:
A) short run AS and the AD occurs at an output level lower than potential output.
B) long run AS and the AD occurs at an output level higher than potential output.
C) short run AS and the AD occurs at an output level higher than potential output.
D) long run AS and the AD occurs at an output level lower than potential output.
Correct Answer:
Verified
Correct Answer:
Verified
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