Multiple Choice
If prices of goods and services were inflexible, then
A) a negative demand shock would lead to increased real GDP in the short run.
B) a positive demand shock would lead to increased real GDP in the short run.
C) a negative demand shock would have no short-run effect on real GDP.
D) there would be no short-run demand shocks.
Correct Answer:
Verified
Correct Answer:
Verified
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