If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices.
B. lower level of output and prices.
C. higher level of output and prices.
D. lower level of output at higher prices.
Answer: A
Economics
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Refer to Table 2.7. Use the information in the table to calculate the values for national income, personal income, and disposable personal income
What will be an ideal response?
Economics
The economy is considered to be at full employment when
a. the actual rate of unemployment is less than the natural rate b. the leading economic indicators are unchanged for two consecutive quarters c. structural unemployment is zero d. frictional plus structural unemployment is less than the natural rate e. the rate of cyclical unemployment is zero
Economics