Multiple Choice
Use the following graph to answer the following questions.The graph depicts an economy where aggregate demand and long-run aggregate supply (LRAS) have decreased,with no change in short-run aggregate supply (SRAS) .
-As a result of aggregate demand and long-run aggregate supply decreasing,we can see that the price level ________ and real gross domestic product (GDP) ________.
A) remained unchanged; decreased
B) increased; decreased
C) decreased; remained unchanged
D) remained unchanged; increased
E) increased; increased
Correct Answer:
Verified
Correct Answer:
Verified
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