Multiple Choice
What is the short-run effect of a temporary supply shock?
A) The level of in?ation will be lower while output increases.
B) The level of output and in?ation both increase.
C) The level of in?ation will be higher but output remains the same.
D) The level of in?ation will be higher while output declines.
Correct Answer:
Verified
Correct Answer:
Verified
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