-The Table Above Gives the Aggregate Demand and Aggregate Supply

question 92

Multiple Choice

-The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. Lotus Land is in short-run macroeconomic equilibrium. In the long run, if aggregate demand does not change, then Lotus Land will return to full employment as

• A) the money wage rate rises.
• B) the money wage rate falls.
• C) businesses cut their imports.
• D) the government cuts taxes.

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Definitions:

Self-induced Frustration

A situation where a party deliberately or through its own actions causes the conditions that render it unable to fulfill a contract, thus cannot claim frustration of the contract.

Halloween Sales

Periodic retail promotions and discounts offered around the end of October in celebration of Halloween, aiming to boost sales with themed products.

Breach of Contract

Occurs when one party fails to fulfill their duties or obligations as outlined in a mutually agreed contract, leading to legal ramifications.

Contract Frustration

A legal concept where a contract becomes impossible to perform due to unforeseen events, releasing parties from their obligations.