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If the Economy Is in a Recession Caused by Lower

question 12

Multiple Choice

If the economy is in a recession caused by lower aggregate demand,then in the absence of policy action,the price level will ________,output will ________,and employment will ________ in the long run.


Definitions:

Resale

The act of selling an asset or item that was previously purchased, often occurring in secondary markets or through distributor networks.

Breaches

Incidents where laws, contracts, or promises are violated, leading to legal consequences.

Compensatory Damages

Financial reparations awarded to a plaintiff to compensate for loss, injury, or harm suffered due to the defendant's actions.

Breaching Party

The entity or individual that fails to fulfill their contractual obligations, thereby violating the contract.

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