If the Prices of Goods and Services Increase, Long-Run Aggregate

question 26

Multiple Choice

If the prices of goods and services increase, long-run aggregate _______ will _______.

• A) supply; increase
• B) supply; decrease
• C) supply; stay the same
• D) demand; increase

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Definitions:

General Warranty Deed

A type of deed where the seller guarantees to the buyer that they hold clear title to the property and have the right to sell it, with protection against future claims to the title.

Closing

The final step in a transaction, particularly in real estate, where the legal transfer of property is completed and documents are signed.

Purchase Price

The amount of money paid or agreed to be paid by the buyer to the seller for the purchase of goods, services, or property.

Covenant of Title

A guarantee in a deed to real property that the grantor has the legal right to transfer ownership.