An unexpected decrease in aggregate demand
A) will decrease long-run aggregate supply.
B) will decrease the average duration of unemployment.
C) will decrease the price level.
D) will decrease real GDP, but will not affect the rate and duration of unemployment.
C
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Which of the following leads to the tragedy of the commons?
A) The use of common pool resources above the socially optimal level B) The low level of satisfaction derived from the use of common pool resources C) The high rate of taxation on common pool resources D) The tendency of consumers to use common pool resources without paying for them
During which Presidential administration did the United States both end its commitment to Bretton Woods and institute significant wage and price controls?
a. Dwight Eisenhower b. Richard Nixon c. Jimmy Carter d. William Clinton