In New Classical Economics, the Change in Output Caused by a "Price-Level

question 98

Multiple Choice

In new classical economics, the change in output caused by a "price-level surprise"

• A) is shown as a shift of the long-run aggregate supply curve.
• B) does not alter the rate of unemployment, even in the short run.
• C) is soon reversed through a shift of the short-run aggregate supply curve.
• D) permanently changes the rate of unemployment.

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Definitions:

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A scientist who studies the biological aspects of social behavior, often focusing on the evolutionary basis for such behaviors.

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Scientists who study the biological basis of social behavior across species, including humans, often focusing on how behavior contributes to survival and reproduction.