In the Long Run, an Increase in the Aggregate Price

question 75

Multiple Choice

In the long run, an increase in the aggregate price level:

• A) doesn't change real output.
• B) decreases real output.
• C) increases real output.
• D) may increase or decrease real output.

---

Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.