Multiple Choice
Figure 8-5 
Panel (a) shows an economy's aggregate production function, Panel (b) shows the labor market and Panel (c) shows the economy's long-run aggregate supply curve.
-Refer to Figure 8-5. The labor market represented in Panel (b) is in long-run equilibrium
A) if it is operating at the natural level of employment.
B) if unemployment rate equals zero.
C) if the macroeconomy is in equilibrium.
D) if there are no diminishing marginal returns.
Correct Answer:
Verified
Correct Answer:
Verified
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