Multiple Choice
Within the framework of the AD/AS model, in the long run, output
A) will exceed the economy's long-run capacity.
B) will be less than the economy's long-run capacity.
C) will converge toward the economy's long-run capacity.
D) must equal approximately 95 percent of the economy's long-run capacity.
Correct Answer:
Verified
Correct Answer:
Verified
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