Multiple Choice
11.4 Consequences of Changes in Aggregate Demand
-Refer to the above figure. An increase in aggregate demand beyond real Gross Domestic Product (GDP) level Y₁ would result in
A) higher real GDP but not a higher price level.
B) a lower price level but no change in real GDP.
C) a higher price level but no change in real GDP.
D) a lower price level and an increases in real GDP.
Correct Answer:
Verified
Correct Answer:
Verified
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