The third phase of the Keynesian LRAS Curve shows the economy at full employment. This means that the factors of production are being used at full capacity.
<h3>What do you mean by long-run aggregate supply?</h3>
Long-run aggregate supply can be defined as the output that an economy can produce while using all the factors of production and operating at full employment level.
The third phase of the Keynesian LRAS curve shows that the economy is at full employment which means that factors of production are being used at full capacity.
Therefore, B is the correct option.
Learn more about long-run aggregate supply here:
brainly.com/question/14020407
#SPJ1
American founding fathers were concerned with the limits of democracy. Their concerns are similar to those of political philosophers such as John Stuart Mill (<em>On Liberty</em>) and Alexis de Tocqueville (<em>Democracy in America</em>). In particular, they were concerned that an excess of democracy would lead to a “tyranny of the majority.”
The tyranny of the majority refers to a situation in democratic rule where a self-interested majority can put their interests above those of the minority. It is an inherent weakness of majority rule and can lead to the oppression of minorities.
Alexander Hamilton wrote to Thomas Jefferson about this worry after The Constitutional Convention in 1787, and the constitution that was drafted reflects these concerns. The Electoral College is partly a safety mechanism to prevent the democratic victory of a tyrannical despot. Other mechanisms introduced were the Bill of Rights and the division of power, which prevents the centralization of all power in one individual, even a democratically elected one.
More information is needed to answer. Also, what is the options for the statements?
Just say stuff about it like how to stop it or why it is happening
