In a Short- Run Macroeconomic Equilibrium, Real GDP Exceeds Potential

question 359

Multiple Choice

In a short- run macroeconomic equilibrium, real GDP exceeds potential GDP, so if aggregate demand does not change the

• A) long- run aggregate supply curve will shift leftward as the money wage rate falls.
• B) long- run aggregate supply curve will shift leftward as the money wage rate rises.
• C) short- run aggregate supply curve will shift leftward as the money wage rate rises.
• D) short- run aggregate supply curve will shift rightward as the money wage rate falls.

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Definitions:

Missing Value

An absent or unrecorded piece of data in a dataset or equation.

Scheduled Payments

Regular fixed payments made over a period according to a repayment plan, typically for loans or mortgages.

Time Value

The idea that having money now is more valuable than having the same sum later because of the possible earnings it can generate over time.

Economic Value

The worth of a good or service determined by its utility and the market demand, influencing its price.