Multiple Choice
Starting from short-run equilibrium,the following occurs: personal income taxes rise and foreign real national income rises.What is the effect on the price level and Real GDP in the short run?
A) The price level rises and Real GDP falls.
B) The price level falls and Real GDP falls.
C) The price level rises and Real GDP rises.
D) The price level falls and Real GDP rises.
E) There is not enough information to answer this question.
Correct Answer:
Verified
Correct Answer:
Verified
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