Multiple Choice
In response to an increase in AD:
A) The price level will increase more in the long run than in the short run.
B) Real output will increase more in the long run than in the short run.
C) Both the price level and real output will increase more in the long run than in the short run.
D) Neither the price level nor real output will change in the long run.
Correct Answer:
Verified
Correct Answer:
Verified
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