In short- run macroeconomic equilibrium,
A) real GDP is less than potential GDP.
B) the price level is fixed and short- run aggregate supply determines real GDP.
C) real GDP equals potential GDP and aggregate demand determines the price level.
D) real GDP and the price level are determined by short- run aggregate supply and aggregate demand.
Correct Answer:
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Q40: A Keynesian economist believes that
A)the economy is
Q41: Stagflation is the combination of
A)deflation with increasing
Q42: If the money price of a resource
Q43: Q44: Which of the following changes would NOT Q46: There are several reasons why the aggregate Q47: Suppose the Australian exchange rate falls from Q48: Business cycles are the result of Q49: Economic growth is BEST defined as Q50: Full- employment equilibrium occurs
A)regular shifts
A)rightward shifts
A)when potential GDP exceeds
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