The nominal cost per unit of output rises when production is pushed beyond an economy's potential output.
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Q128: Actual output can exceed the economy's potential
Q129: In the long run,the price level is
Q130: If the actual price level is lower
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Q132: Given a downward-sloping aggregate demand curve,if short-run
Q134: The figure given below depicts long-run equilibrium
Q135: Stagflation is defined as:
A)decreased output accompanied by
Q136: The short-run equilibrium output in the economy
Q137: If global pollution causes climatic changes that
Q138: An adverse supply shock would shift:
A)only the
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