Multiple Choice
Consider the basic AD/AS macro model in long- run equilibrium. An expansionary AD shock has price- level effect in the short run and price- level effect in the long run.
A) a positive; no
B) a negative; a positive
C) a negative; no
D) a positive; an even larger
E) a positive; a smaller
Correct Answer:
Verified
Correct Answer:
Verified
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