In the Short Run, an Increase in Aggregate Demand

question 445

Multiple Choice

In the short run, an increase in aggregate demand

• A) lowers the price level and increases real GDP.
• B) raises the price level and increases real GDP.
• C) raises the price level and decreases real GDP.
• D) lowers the price level and decreases real GDP.

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Definitions:

Period Of Time

A duration in which activities, processes, or conditions exist or take place.

Accounts Receivable

Financial dues owed by patrons to an enterprise for products or services consumed but not yet compensated.

Asset

A resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Liability

Obligations or debts that a company owes to others, which must be settled over time through the transfer of assets, provision of services, or other value.