Which of the following will most likely occur in the short run if long-run equilibrium is disturbed by an unanticipated decrease in aggregate demand?
a. a decrease in output and a higher price level
b. an increase in output and a higher price level
c. a decrease in output and a lower price level
d. an increase in output, while prices remain unchanged
C
Economics
You might also like to view...
A consumer is likely to avoid adverse selection and get a high-quality lunch at
A) a snack bar at a traveling carnival. B) a vendor who parks her cart at a different location every noon. C) a restaurant in the center of a business district. D) a restaurant located next door to Disneyland.
Economics
Differences in marginal revenue products among workers can help explain the presence of wage differentials
a. True b. False
Economics