Along the short-run aggregate supply curve (SRAS), an increase (rightward shift) in the aggregate demand curve will increase:
a. both the price level and real GDP
b. real GDP without raising the price level.
c. the price level without affecting real GDP.
d. the price level but reduce real GDP.
a
Economics
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A) Swiss banking. B) offshore banking. C) international banking. D) domestic banking. E) international swapping.
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Dogfighting is against the law in New Jersey, resulting in high-priced events held illegally in the state. What idea from Chapter 1 of the text does this story best illustrate?
A. There ain't no such thing as a free lunch. B. Social and political forces sometimes rein in market forces. C. The invisible hand is always invisible. D. Maintaining objectivity is easiest in positive economics.
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