In the Short-Run, an Increase in the Price of Raw

question 63

Multiple Choice

In the short-run, an increase in the price of raw materials will _{--------------------}the price level and _{--------------------}Real GDP.

• A)raise; not change
• B)raise; decrease
• C)lower; increase
• D)raise; increase
• E)lower; decrease

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Definitions:

Salience

The quality of being particularly noticeable or important; the state of being prominent in the mind or in a situation.

Homogeneity

The quality or state of being all the same or all of the same kind, often used to describe a population or group with minimal diversity.

Nutritional Needs

The essential nutrients required by the body for growth, maintenance, and proper functioning, including vitamins, minerals, carbohydrates, proteins, and fats.

Dietary Requirements

Specific nutritional or food needs an individual might have, often due to health issues, allergies, or personal and ethical beliefs.