In the Aggregate Demand-Aggregate Supply Framework, How Does an Increase

question 148

Essay

In the aggregate demand-aggregate supply framework, how does an increase in the price level affect potential GDP?

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Definitions:

Implicit Preferences

Unconscious biases or inclinations towards certain ideas, individuals, or objects.

Implicit Attitude

An attitude that exists outside of conscious awareness, influencing feelings and behavior unconsciously.

Explicit Attitude

Attitudes that people consciously endorse and can easily report, reflecting deliberate beliefs and feelings.

Automatic Association

The unconscious linking of two concepts or objects together in one's mind, which can influence attitudes and behavior without conscious awareness.