Suppose the Economy Is Self-Regulating,the Price Level Is 150,the Quantity

question 28

Multiple Choice

Suppose the economy is self-regulating,the price level is 150,the quantity demanded of Real GDP and the quantity supplied of Real GDP in the short run both equal $4.3 trillion,and the quantity supplied of Real GDP in the long run is $4.1 trillion.Given all of this information,we can conclude that the economy ____________ in short run equilibrium,and that the price level in long run equilibrium will be _____________ than 150.

• A) is not; less
• B) is; more
• C) is; less
• D) is not; more

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Definitions:

Excess Zone

A situation where desired or necessary levels of something, such as production or capacity, are exceeded, leading to inefficiency or waste.

Directive Communication

A style of communication that focuses on clear, concise instructions and expectations, often used in leadership.

Assertiveness

The quality of being self-assured and confident without being aggressive, in expressing one’s rights, needs, and desires.

Communication Style

The way in which individuals express themselves and interact with others, which can vary greatly from person to person.