In the long run of the AD/AS model, ... a. Real GDP is determined by AD and the price level by Y*. O b. Both real GDP and the price level are determined by Y*. O c. Long-run real GDP is determined by AD and the price level by AS. Long-run real GDP is determined by V* and the long run price level by AD

In the long run of the AD/AS model, ... a. Real GDP is determined by AD and the price level by Y. O b. Both real GDP and the price level are determined by Y. O c. Long-run real GDP is determined by AD and the price level by AS. Long-run real GDP is determined by V* and the long run price level by AD

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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