A shortage or a surplus can exist when the current price is equal to the equilibrium price

In the _______ range of the aggregate supply curve, expansionary fiscal policy that causes aggregate ______ to increase will lead to a higher price level and a higher equilibrium level of real GDP

a. Keynesian, supply b. Classical, demand c. Intermediate, demand d. Intermediate, supply

Control of a scarce resource or input can serve as an entry barrier

a. True b. False Indicate whether the statement is true or false