A decrease in the aggregate demand curve along the LRAS curve, all other things unchanged, will generate ______ in potential real GDP and _______ in the price level

If the quantity of housing supplied in a community is less than the quantity of houses demanded, the existing price:

A) will remain unchanged. B) will fall to clear the market. C) will either fall or remain unchanged. D) is below the market equilibrium price.

After an excise tax is imposed on a good or service,

a. the equilibrium price and quantity are unchanged b. firms must charge a higher price for any particular quantity c. firms must charge a lower price for any particular quantity d. the equilibrium price and quantity will both increase e. the equilibrium price and quantity will both decrease