If the Economy Is Initially at Long-Run Equilibrium and Aggregate

question 87

Multiple Choice

If the economy is initially at long-run equilibrium and aggregate demand declines,then in the long run the price level

• A)and output are higher than in the original long-run equilibrium.
• B)and output are lower than in the original long-run equilibrium.
• C)is lower and output is the same as the original long-run equilibrium.
• D)is the same and output is lower than in the original long-run equilibrium.

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