Multiple Choice
(Figure: Determining SRAS Shifts) Which statement is NOT correct?
A) Equilibrium output is $3,000 worth of goods and services.
B) An increase in aggregate demand would lead to deflation.
C) Full employment occurs when the economy produces $3,000 worth of goods and services.
D) In short-run equilibrium, output can be greater than or less than $3,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q242: Short-run macroeconomic equilibrium occurs at the intersection
Q243: If oil prices decline, the short-run aggregate
Q244: Suppose consumers fear that a recession is
Q245: If the British pound sterling appreciates against
Q246: In Productovia, aggregate demand increases and aggregate
Q248: Demand-pull inflation occurs when aggregate demand expands
Q249: Which event causes an increase in aggregate
Q250: A(n) _ in oil prices and a(n)
Q251: If the intersection of the short-run aggregate
Q252: Which of these is NOT a reason