The Diagram Below Shows an AD/AS Model for a Hypothetical

question 86

Multiple Choice

The diagram below shows an AD/AS model for a hypothetical economy.The economy begins in long-run equilibrium at point A. FIGURE 24-3 Refer to Figure 24-3.A negative shock to the economy shifts the AD curve from to .At the new short-run equilibrium,the price level is ________ and real GDP is ________.

• A)90; 900
• B)110; 800
• C)60; 1000
• D)60; 700
• E)90; 1250

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Definitions:

Developing Trust

The process of building confidence and reliability in relationships, whether personal or professional, over time.

Keep Promises

The commitment to fulfilling what one has agreed or vowed to do, an essential element in building trust and integrity in relationships.

Consider Points

To take into account specific facts or arguments when making a decision or forming an opinion.

Leader-centered Decision Making

A leadership approach where decisions are predominantly made by the leader rather than being collaborative or democratic.