If Aggregate Demand Shifts Inward Over a Long Period of Time

question 128

Multiple Choice

If aggregate demand shifts inward over a long period of time, with aggregate supply held constant, the economy should experience

• A)unemployment.
• B)budget surpluses.
• C)stagflation.
• D)inflation.

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Definitions:

Back-substitution

A method used in algebra to solve systems of equations by solving one equation first and then substituting its value into other equations.

Variables

Symbols in mathematics that represent unknown quantities or can take on various values in an equation or expression.

Solution

The value or values that satisfy an equation or inequality.

Elementary Row Operation

A procedure used in matrix algebra involving row swapping, row multiplication, or row addition, aimed at simplifying matrices or solving systems of linear equations.