Given the Shift of the Aggregate Demand Curve from AD₁

question 60

Multiple Choice

Given the shift of the aggregate demand curve from AD₁ to AD₂ in Exhibit 1, the real GDP and price level (CPI) in long-run equilibrium will be:

• A)$8 billion and 150.
• B)$12 billion and 200.
• C)$8 billion and 250.
• D)$8 billion and 200.

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Definitions:

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The process whereby individuals adjust and become accustomed to the norms, values, and behaviors of a new culture or society.

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To investigate, study, or analyze with the intention of discovering new information or understanding something more thoroughly.

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The adjustment process individuals undergo to integrate with or accommodate themselves to different cultural practices and settings.