Multiple Choice
Which of the following statements about aggregate demand and supply in the new classical model is FALSE?
A) In the short run there can be an increase in aggregate demand without an increase in the general level of prices.
B) In the long run there can be an increase in aggregate demand without an increase in the general level of prices.
C) In the short run there can be an increase in the general level of prices when there is no change in aggregate supply.
D) In the long run there can be an increase in the general level of prices when there is no change in aggregate supply.
Correct Answer:
Verified
Correct Answer:
Verified
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