Consider the Nature of Macroeconomic Equilibrium

question 107

Multiple Choice

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

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

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Definitions:

Dimensions Vary

Dimensions vary indicates that characteristics or aspects of something can differ in magnitude or extent among different entities or within different contexts.

Labels Effective

The practice of using descriptive or informative tags or stickers in a way that significantly enhances the understanding or management of items or information.

Organizational Socialization

The process through which new employees learn the values, norms, and expectations of an organization to become effective members.

Maintenance Culture

relates to the collective practices, values, and attitudes towards maintaining and preserving assets, equipment, and infrastructure in an organization or society.