-In the Above Figure, the Economy Is Currently at Point

question 313

Multiple Choice

-In the above figure, the economy is currently at point A. Suppose that the money wage rate and the price level both fall by 10 percent. Firms will be willing to supply output equal to

• A) less than $18.0 trillion.
• B) $18.0 trillion.
• C) more than $18.0 trillion.
• D) Without more information, it is impossible to determine which of the above answers is correct.

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