Multiple Choice
What happens to prices and output when the long-run aggregate-supply curve shifts left?
A) Prices and output both increase.
B) Prices and output both decrease.
C) Prices increase and output decreases.
D) Prices decrease and output increases.
Correct Answer:

Verified
Correct Answer:
Verified
Q53: Which statement characterizes business cycles?<br>A) They are
Q54: If speculators bid up the value of
Q55: Which statement best describes the effects of
Q56: Review the sticky-wage theory of the short-run
Q57: Suppose the Canadian economy is in long-run
Q59: According to the sticky-price theory, which statement
Q60: When would the long-run aggregate-supply curve shift
Q61: In which situation does investment spending decrease?<br>A)
Q62: What has been suggested as a cause
Q63: Suppose the economy is in long-run equilibrium.