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When the Price Level Falls from 135 to 120,the Aggregate

Question 234

Multiple Choice

When the price level falls from 135 to 120,the aggregate level of GDP supplied falls from $140 billion to $125 billion.This ________ relationship represents the ________ relationship between GDP and the price level.


A) negative; short-run
B) positive; short-run
C) negative; long-run
D) positive; long-run

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