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Long-run macroeconomic equilibrium occurs when:
a. aggregate demand equals short-run aggregate supply.
b. aggregate demand equals short-run aggregate supply and they intersect at a point on the long-run supply curve.
c. unemployment equals zero.
d. output is above potential GDP.
Long-run macroeconomic equilibrium occurs when:
a. aggregate demand equals short-run aggregate supply.
b. aggregate demand equals short-run aggregate supply and they intersect at a point on the long-run supply curve.
c. unemployment equals zero.
d. output is above potential GDP.
Verified Answer
Casey DurganLv2
19 Feb 2020
Jeffrey
JD Candidate at Stanford Law School23 Apr 2020
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