If ________ equilibrium output ________ , the price level rises.
A) actual; is below potential GDP
B) potential; is equal to actual GDP
C) potential; exceeds actual GDP
D) actual; exceeds potential GDP
Correct Answer:
Verified
Q211: 11.5 The Long-Run AS Curve
Refer to the
Q212: The real wealth effect explains why the
Q213: 11.5 The Long-Run AS Curve
Refer to the
Q214: Refer to the information provided in Figure
Q215: The long-run aggregate supply curve is vertical
Q217: Other things being equal, the more wealth
Q218: 11.5 The Long-Run AS Curve
Refer to the
Q219: If a decrease in the price level
Q220: Potential output is equal to
A) long run
Q221: Refer to the information provided in Figure
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