An implication of the long-run aggregate supply curve is that continuous increases in the money supply will result in continuous
A) increases in price level. B) increases in output and price level.
C) decreases in output and price level. D) decreases in output.
A
Economics
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According to the classical model, an increase in aggregate demand would
A) lead the economy to recession. B) lead the economy to a deflationary cycle. C) cause an adjustment to a higher price level. D) raise real Gross Domestic Product (GDP) but leave the price level unchanged.
Economics
If the government spends less than what it receives in taxes during a given interval, then the result is
A) a balanced budget. B) an entitlement. C) unrealized public debt. D) a government budget surplus.
Economics