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Long-Run Full-Employment Equilibrium Assumes

Question 22

Multiple Choice

Long-run full-employment equilibrium assumes:


A) ​a downward-sloping production function.
B) ​a downward-sloping long-run supply curve (LRAS) .
C) ​the CPI index price level equals the equilibrium wage rate.
D) ​the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equals long-run aggregate supply (LRAS) .
​

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