Multiple Choice
Moving upward along the short-run aggregate supply curve results in a ________ in the price level and ________ in real GDP.
A) rise; an increase
B) rise; a decrease
C) fall; an increase
D) fall; a decrease
Correct Answer:

Verified
Correct Answer:
Verified
Q53: People expect that the El Niño effect
Q54: The short-run aggregate supply curve is upward
Q55: An inflationary gap occurs when<br>A) real GDP
Q56: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -An inflationary gap
Q57: Business cycles are the result of<br>A) regular
Q59: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The curve labeled
Q60: The aggregate demand curve shows that, if
Q61: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q62: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The reason that
Q63: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above