Multiple Choice
A temporary adverse supply shock, such as a drought _____
A) lowers the price level and increases output.
B) lowers the price level and decreases output.
C) raises the price level and increases output.
D) raises the price level and decreases output.
E) has no effect on either the long-run or the short-run aggregate supply curves.
Correct Answer:
Verified
Correct Answer:
Verified
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