Multiple Choice
Suppose we observe the price level increasing and real GDP decreasing. An explanation for this is that
A) the dollar weakened and the effect on aggregate supply was less than the effect on aggregate demand.
B) the dollar weakened and the effect on aggregate supply was greater than the effect on aggregate demand.
C) the dollar strengthened and the effect on aggregate supply was less than the effect on aggregate demand.
D) the dollar strengthened and the effect on aggregate supply was greater than the effect on aggregate demand.
Correct Answer:
Verified
Correct Answer:
Verified
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