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:

Substitute Goods

are products or services that can be used in place of each other due to their similar characteristics, affecting consumer choice.

Reasonable Expenses

Costs that are necessary and appropriate for completing a task or project, considering the circumstances.

Substitute Widgets

Alternate or replacement products used in place of original items in various applications.

Justifiably Withheld

Pertains to information or documents that may legally be kept confidential or not disclosed due to valid exemptions under applicable laws or regulations.