Figure 33-3
-Refer to Figure 33-3. In Figure 33-3, Point B represents a
A)short-run equilibrium and a long-run equilibrium.
B)short-run equilibrium, and Point A represents a long-run equilibrium.
C)long-run equilibrium, and Point A represents a short-run equilibrium.
D)long-run equilibrium, and Point C represents a short-run equilibrium.

Question

Figure 33-3 
-Refer to Figure 33-3. In Figure 33-3, Point B represents a
A)short-run equilibrium and a long-run equilibrium. 
B)short-run equilibrium, and Point A represents a long-run equilibrium. 
C)long-run equilibrium, and Point A represents a short-run equilibrium. 
D)long-run equilibrium, and Point C represents a short-run equilibrium.

Quizplus · Accepted Answer

Point B represents a short-run equilibrium where the economy might be at any given time, while Point A represents a long-run equilibrium where the economy tends to move over time, reflecting the intersection of the long-run aggregate supply with the aggregate demand.

Figure 33-3 -Refer to Figure 33-3. in Figure 33-3, Point B Represents