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    Business
  3. Study Set
    ECON Macro Principles
  4. Exam
    Exam 11: Aggregate Supply
  5. Question
    -Refer to the Graph in the Exhibit
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-Refer to the Graph in the Exhibit

Question 1

Question 1

Multiple Choice

  -Refer to the graph in the exhibit.Suppose the actual price level is lower than the expected price level.What might equilibrium output be in the short run?   A)  Y₂  B)  Y₁  C)  Y₃  D)  zero
-Refer to the graph in the exhibit.Suppose the actual price level is lower than the expected price level.What might equilibrium output be in the short run?  


A)  Y₂ 
B)  Y₁ 
C)  Y₃ 
D)  zero

Correct Answer:

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