Which of the following is not a determinant of the long-run level of real GDP?
A)The price level
B)The amount of capital used by firms
C)Available stock of human capital
D)Available technology

Question

Quizplus · Accepted Answer

The long-run level of real GDP is determined by factors such as the amount of capital used by firms, the available stock of human capital, and the available technology, which are all related to the economy's productive capacity. The price level, on the other hand, is not a determinant of the long-run level of real GDP; it affects the economy in the short run through demand-side factors.

Which of the Following Is Not a Determinant of the Long-Run