If Aggregate Demand Shifts Outward Over a Long Period of Time

question 211

Multiple Choice

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

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

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Definitions:

Illiteracy

The inability to read or write, often leading to a lack of basic understanding and knowledge acquisition.

Developing Countries

Nations with a lower standard of living, underdeveloped industrial base, and low Human Development Index compared to other countries.

Middle-Aged Adults

A demographic group typically defining individuals aged between 45 and 65 years, often focusing on their lifestyle, health, and social changes.

Retraining

The process of learning new skills or refreshing current skills, often in the context of employment or career change, to adapt to new job requirements or technologies.