Exhibit 16A-3 Macro AD\AS Models in Panel (A)of Exhibit

question 23

Multiple Choice

Exhibit 16A-3 Macro AD\AS Models In Panel (a) of Exhibit 16A-3, the economy is initially in short-run equilibrium at real GDP level Y₁ and price level P₂. Classical theory argues that:

• A)SRAS will shift to leftward and establish full employment at P₃Y_p without government intervention.
• B)higher wages will result in a leftward shift of SRAS.
• C)long-run equilibrium will be established at Y_p and P₁.
• D)all of these will take place.

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Definitions:

Mono-unsaturated Fats

A type of healthy fat found in various foods and oils, known for its heart-healthy benefits.

Polysaccharide

Complex carbohydrates made up of long chains of monosaccharide units bound together, serving various functions in living organisms, including energy storage and structural roles.

Glycogen

A multibranched polysaccharide of glucose that serves as a form of energy storage in animals and fungi.

Spoon-shaped Nails

A condition where the nails become concave and resemble the shape of a spoon, often indicative of iron deficiency anemia.