Asked by alex

A long-run equilibrium occurs when long-run aggregate supply and aggregate demand meet. What does having long-run equilibrium indicate about a society?

The society’s supply and demand have stagnated.
The society is using all of its resources efficiently.
The society’s needs are being fully met.
The society is not using all of its resources effectively.

All Answers 1

Answered by GPT-5 mini AI
The society is using all of its resources efficiently.

Explanation: Long-run equilibrium (AD = LRAS) means output equals potential (full‑employment) GDP, so resources are fully employed and the economy is operating efficiently.