A crisis in the Middle East drastically raises the price of petroleum.If the aggregate demand curve does NOT shift,then aggregate supply will ________,real GDP will ________,and the price level will ________.
A) decrease;decrease;increase
B) increase;remain the same;increase
C) decrease;remain the same;decrease
D) remain the same;increase;increase
E) increase;increase;increase
Correct Answer:
Verified
Q61: Q64: If demand-pull inflation occurs when the economy Q72: Demand-pull inflation results from continually increasing the Q87: If the AD curve shifts rightward while Q88: Stagflation is defined as a period when Q158: Demand-pull inflation starts with Q161: The government increases the level of government Q163: At the beginning of 2017,a country is Q166: A deep recession hits the world economy,and Q167: If oil prices increase then,in the short
A)an increase in aggregate
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