In the Long Run, If the Price Level Increases, Then

question 86

Multiple Choice

In the long run, if the price level increases, then nominal wages and other input prices will

• A) also rise, so firms will reduce their output level.
• B) also rise, so firms will not change their output level.
• C) not change, so firms will not change their output level.
• D) decrease, so firms will increase their output level.

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Definitions:

Blood Calcium Levels

The concentration of calcium ions in the blood, crucial for bone health, nerve function, and muscle contraction.

Thyroid Hormones

Thyroid hormones, including thyroxine (T4) and triiodothyronine (T3), are produced by the thyroid gland and are critical for regulating metabolism, growth, and development.

TRH

Thyrotropin-releasing hormone (TRH) is a tripeptide hormone produced in the hypothalamus that stimulates the pituitary gland to release thyroid-stimulating hormone (TSH).

TSH

A hormone from the pituitary gland that controls hormone output from the thyroid gland, known as Thyroid Stimulating Hormone.