If the aggregate demand curve shifts to the left in the short run then the long-run equilibrium will be at a:
A. higher price level and higher level of output.
B. higher price level and lower level of output.
C. lower price level and same level of output.
D. lower price level and lower level of output.
C. lower price level and same level of output.
You might also like to view...
An increase in the demand for medical services caused by an increase in the number of people over 65 is most likely attributable to which demand shifter?
A) income B) consumer preferences C) prices of other goods D) demographic characteristics
If a firm has an incentive to increase supply now and decrease supply in the future, then the firm expects that the
A) demand for the product will be lower in the future than it is today. B) price of its product will be higher in the future than it is today. C) price of its product will be lower in the future than it is today. D) price of inputs will be lower in the future than they are today.