Changes in the price level
A) do not affect the level of aggregate supply in the long run.
B) increase the level of aggregate supply in the long run.
C) decrease the level of aggregate supply in the long run.
D) increase the level of aggregate supply in the long run only at very high levels of output.
A
Economics
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When real GDP equals potential GDP, the quantity theory of money says that an increase in the quantity of money brings an equal percentage
A) decrease in real GDP. B) decrease in velocity. C) decrease in the price level. D) increase in the price level. E) increase in real GDP.
Economics
If the quantity desired of something exceeds the amount available at zero price, that item is called
A) capital. B) an economic good. C) an intangible good. D) a bad.
Economics