In the Long Run, as Potential GDP Grows at a Steady

question 27

Multiple Choice

In the long run, as potential GDP grows at a steady pace and nominal money supply is continuously increased over time

• A)the level of output is essentially determined by shifts in the AS-curve
• B)the level of output is essentially determined by shifts in the AD-curve
• C)the price level will not change since the AS-curve is horizontal
• D)real money balances continuously decrease as the AD-curve remains constant
• E)the price level is determined solely by the shift in the AS-curve

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