If the Price Level Rises by 10 Percent,then All Else

question 108

Multiple Choice

If the price level rises by 10 percent,then all else being equal,the long-run quantity of aggregate supply will

• A) increase by 10 percent.
• B) decrease by 10 percent.
• C) remain unchanged.
• D) increase by more than 10 percent.
• E) increase by less than 10 percent.

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Definitions:

Mere Exposure Effect

A psychological phenomenon where repeated exposure to a stimulus increases a person’s preference for it.

Attitudes

A person's enduring positive or negative evaluation of an object, person, event, or idea.

Attitude Polarization

The phenomenon when a disagreement becomes more extreme as the differing parties consider evidence for their perspectives.

Cognitive Dissonance

An internal conflict caused by simultaneous, incompatible beliefs and attitudes.