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

question 212

Multiple Choice

In the short-run, an increase in the price of raw materials will ________ the price level and ________ real GDP.

• A) raise; increase
• B) raise; decrease
• C) lower; increase
• D) lower; decrease

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Definitions:

National Institutes of Health

A part of the U.S. Department of Health and Human Services and the primary agency of the United States government responsible for biomedical and public health research.

Laboratory

A controlled environment where scientific research, experiments, and measurement are conducted by specialists using specific equipment and techniques.

Cholera

An infectious disease causing severe diarrhea and dehydration, usually spread through contaminated water.

Tuberculosis

A contagious bacterial infection that primarily affects the lungs but can also impact other parts of the body.