Aggregate Supply Shocks Cause the Price Level and Real GDP

question 90

Multiple Choice

Aggregate supply shocks cause the price level and real GDP to change in

• A)opposite directions with price changing by less than output.
• B)the same direction with price changing by more than output.
• C)opposite directions but by the same amount.
• D)opposite directions but not necessarily by the same amount.
• E)the same direction and by the same amount.

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Definitions:

F-ratio

A statistical measure that is used to compare the variance among group means in a sample.

Null Hypothesis

The null hypothesis is a default hypothesis that there is no significant effect or difference present, to be tested against the alternative hypothesis.

GPAs

Grade Point Averages (GPAs) are numerical calculations used to assess a student's academic performance, typically on a scale from 0 to 4.0.

F-ratio

A statistical measure used in the analysis of variance (ANOVA) to compare the variability between groups to variability within groups.