a long - run equilibrium occurs when long - run aggregate supply and aggregate demand meet. what does having…

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.

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.

Answer

Brief Explanations:

In long - run equilibrium in economics, the long - run aggregate supply curve represents the full - employment level of output. When long - run aggregate supply and aggregate demand meet, it implies that the economy is operating at its potential output level. This means the society is using all of its resources efficiently. Stagnation is not indicated as there is an equilibrium. Also, society's needs are not always fully met even in equilibrium due to limited resources and distribution issues. And it is not a situation of ineffective resource use.

Answer:

The society is using all of its resources efficiently.