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Consider the Basic AD/AS Macro Model in Long- Run Equilibrium

question 89

Multiple Choice

Consider the basic AD/AS macro model in long- run equilibrium. An expansionary AD shock has price- level effect in the short run and price- level effect in the long run.


Definitions:

Reasonable

A standard of fairness, appropriateness, or rationality often used in legal contexts to determine the justifiability of actions or decisions.

In Writing

A term indicating that a document or agreement has been formally recorded on paper or in a digital format rather than merely agreed upon orally.

Contract of Employment

A formal agreement between an employer and an employee outlining terms of employment, duties, and rights.

Fixed Period

A set duration of time with defined beginning and end points, often used in contracts, rentals, or employment agreements.

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