Consider the Nature of Macroeconomic Equilibrium

question 36

Multiple Choice

Consider the nature of macroeconomic equilibrium. If, at a particular price level, aggregate output demanded is less than that supplied by producers, then

• A)the aggregate demand curve will shift to the right, re- establishing an equilibrium.
• B)the price level will decline toward its equilibrium value.
• C)the aggregate supply curve will shift to the left, re- establishing an equilibrium.
• D)the aggregate supply curve will shift to the right, re- establishing an equilibrium.
• E)the price level will rise toward its equilibrium value.

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