In the long run
A) the level of output is independent of the price level.
B) the level of output is depends on the price level.
C) price and output levels are mutually dependent.
D) the price level is independent of the level of output.

Question

Quizplus · Accepted Answer

In the long run, the level of output is determined by factors such as technology, natural resources, and capital stock, which are independent of the price level. Therefore, the level of output is independent of the price level.

In the Long Run