Multiple Choice
If the economy experiences simultaneous negative aggregate demand and aggregate supply shocks,the new equilibrium price level ________ and the new equilibrium level of aggregate output ________.
A) will he higher; will be lower
B) will he lower; will be lower
C) may be higher, lower, or not change; will be lower
D) will be higher; may be higher, lower, or not change
Correct Answer:
Verified
Correct Answer:
Verified
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