Multiple Choice
If both the price level and nominal incomes change by the same percentage:
A) real GDP will remain constant.
B) the aggregate supply curve will be upward-sloping.
C) profit margins will change in real terms.
D) the long-run aggregate supply curve will be horizontal.
E) both a and d.
Correct Answer:
Verified
Correct Answer:
Verified
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Q27: Exhibit 14A-1 Aggregate demand and supply model <img
Q29: Exhibit 14A-3 Macro AD-AS Model <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9287/.jpg" alt="Exhibit
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Q33: Exhibit 14A-6 Aggregate demand and supply model <img
Q34: Exhibit 14A-6 Aggregate demand and supply model <img
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Q36: In the self-correcting AD-AS model, a point