If the Price Level Falls by 5 Percent,then All Else

question 80

Multiple Choice

If the price level falls by 5 percent,then all else being equal,the long-run aggregate supply curve will

• A) remain unchanged.
• B) shift to the right to reflect an increase in output of 5 percent.
• C) shift to the right to reflect an increase in output of more than 5 percent.
• D) shift to the left to reflect a decrease in output of 5 percent.
• E) shift to the left to reflect a decrease in output of more than 5 percent.

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Definitions:

Rich

Having a great deal of money, resources, or assets; wealthy.

Radical Reformation

A 16th-century movement within Christianity that sought profound changes to the doctrines, practices, and structures of the church, beyond what mainstream Reformers proposed.

Lutheran

Pertains to the Christian denomination founded on the teachings and reforms of Martin Luther, emphasizing justification by faith alone.

1555 Peace of Augsburg

An important treaty in the Holy Roman Empire that allowed princes to choose Lutheranism or Catholicism as the religion of their territories.