When the SRAS curve slopes upward, the actual affect of an increase in real autonomous spending on equilibrium real GDP is smaller than predicted by the multiplier because
A) the price level rises B) the price level falls.
C) real GDP increases. D) real GDP decreases.
A
Economics
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The basic problem in economics is
A) unlimited needs. B) scarcity. C) demand. D) limited resources.
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Firms in a cartel have an incentive to cheat on the cartel agreement because they suspect the other firms are cheating as well.
Answer the following statement true (T) or false (F)
Economics