Multiple Choice
In the basic AD/AS model,the effect of an aggregate demand shock is divided between a change in output and a change in the price level.How the effect is divided depends on the
A) amount of inflation in the economy.
B) position of the AE curve.
C) size of the simple multiplier.
D) slope of the AD curve.
E) slope of the AS curve.
Correct Answer:
Verified
Correct Answer:
Verified
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