Pessimism
Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of confidence in policymakers, people become pessimistic regarding the future and retain that level of pessimism for some time.
-Refer to Stock Market Boom 2015.In the long run,the change in price expectations created by the stock market boom shifts
A) long-run aggregate supply right.
B) long-run aggregate supply left.
C) short-run aggregate supply right.
D) short-run aggregate supply left.
Correct Answer:
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Q30: Consider the exhibit below for the following
Q31: Figure 33-5. Q32: Figure 33-5. Q33: Figure 33-5. Q34: Pessimism Q36: Pessimism Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
Suppose the economy is in long-run equilibrium.
Suppose the economy is in long-run equilibrium.
