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Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
Edition 20ISBN: 978-0077660772 Exercise 11
At price level 92:
A) a GDP surplus of $12 billion occurs that drives the price level up to 100.
B) a GDP shortage of $12 billion occurs that drives the price level up to 100.
C) the aggregate amount of real GDP demanded is less than the aggregate amount of real GDP supplied.
D) the economy is operating beyond its capacity to produce.
A) a GDP surplus of $12 billion occurs that drives the price level up to 100.
B) a GDP shortage of $12 billion occurs that drives the price level up to 100.
C) the aggregate amount of real GDP demanded is less than the aggregate amount of real GDP supplied.
D) the economy is operating beyond its capacity to produce.
Explanation
Verified
Verified
Hence, the correct answer is b. a GDP sh...
Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn
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