A Decrease in Short- Run Aggregate Supply the Equilibrium Price

question 349

Multiple Choice

A decrease in short- run aggregate supply the equilibrium price level and the equilibrium quantity of real GDP.

• A) increases; decreases
• B) decreases; decreases
• C) decreases; increases
• D) increases; increases

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Definitions:

Superego

In Freudian psychoanalysis, represents the ethical component of personality, regulating the impulses of the id according to moral and societal norms.

Defense Mechanisms

Psychological strategies brought into play by individuals or the mind unconsciously to protect against anxiety, social sanctions, or to provide a refuge from reality.

Conscious

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, etc.

Reality

The state of things as they actually exist, as opposed to an idealistic or notional idea of them.