Multiple Choice
Pessimism
Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of confidence in policymakers, people become pessimistic regarding the future and retain that level of pessimism for some time.
-Refer to Stock Market Boom 2015.In the long run,the change in price expectations created by the stock market boom shifts
A) long-run aggregate supply right.
B) long-run aggregate supply left.
C) short-run aggregate supply right.
D) short-run aggregate supply left.
Correct Answer:
Verified
Correct Answer:
Verified
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