Multiple Choice
If the economy is in long run equilibrium and then aggregate demand increases, in the long run the increase in aggregate demand means that the
A) neither the price level nor real GDP will be unaffected.
B) the price level will be higher and real GDP will be larger.
C) price level will be higher but real GDP will be unaffected.
D) real GDP will be larger but the price level will be unaffected.
Correct Answer:
Verified
Correct Answer:
Verified
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