Multiple Choice
If the economy's AS curve is very steep and there is a negative aggregate demand shock,the result will be
A) an increase in the price level and a decrease in real national income.
B) an increase in both the price level and real national income.
C) a decrease in the price level with almost no change in real national income.
D) a decrease in the price level and an increase in real national income.
E) no change in either price level or output.
Correct Answer:

Verified
Correct Answer:
Verified
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