Multiple Choice
In new classical economics, the change in output caused by a "price-level surprise"
A) is shown as a shift of the long-run aggregate supply curve.
B) does not alter the rate of unemployment, even in the short run.
C) is soon reversed through a shift of the short-run aggregate supply curve.
D) permanently changes the rate of unemployment.
Correct Answer:
Verified
Correct Answer:
Verified
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