Which of the Following Statements Is (Are)correct? There Is Agreement

question 32

Multiple Choice

Which of the following statements is (are) correct? There is agreement between the Keynesians and monetarists that

• A)an increase in aggregate demand will increase both output and price in the short run.
• B)there is a trade-off between inflation and unemployment in the short run.
• C)in the long run,when the expected price level also has time to adjust,output will not be affected by changes in aggregate demand.
• D)All of the above
• E)None of the above

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Definitions:

Hemoglobin

A protein in red blood cells that carries oxygen from the lungs to the rest of the body and returns carbon dioxide to be exhaled.

Oxygen

A chemical element (O) that is a highly reactive nonmetal, essential for most forms of life on Earth, and a key component of the atmosphere.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration, absorbed by plants in photosynthesis.

Carbonic Acid

A weak acid formed in solution when carbon dioxide reacts with water (H2CO3).