Multiple Choice
(Figure: Understanding Aggregate Graphs) 
If an economy is currently at point a, this figure depicts the economy in
A) long-run equilibrium only.
B) short-run equilibrium only.
C) both short-run and long-run equilibrium.
D) neither short-run nor long-run equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: The long-run supply curve is<br>A) vertical.<br>B) horizontal.<br>C)
Q12: During demand-pull inflation, the economy cannot expand
Q13: If the U.S. aggregate price level falls<br>A)
Q14: Which factor will cause the aggregate demand
Q17: Technological advancements increase aggregate supply.
Q18: A decrease in regulation would cause aggregate<br>A)
Q19: _ inflation occurs when a supply shock
Q20: In the short run, a decrease in
Q21: A product demand curve and the aggregate
Q220: The short-run aggregate supply curve is vertical.