Multiple Choice
If the short-run macroeconomic equilibrium occurs in the upward-sloping range of the short-run aggregate supply curve, then an increase in input prices will lead to _____ in output and _____ in the price level.
A) an increase; an increase
B) a decrease; a decrease
C) an increase; a decrease
D) a decrease; an increase
Correct Answer:
Verified
Correct Answer:
Verified
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