​ in the Long Run, a Decrease in Aggregate Demand

question 142

Multiple Choice

​ In the long run, a decrease in aggregate demand causes the price level to _______ and the long-run aggregate supply curve to _____________.

• A) ​decrease; decrease
• B) ​increase; increase
• C) ​decrease; remain unchanged
• D) ​increase; remain unchanged

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Definitions:

Non-distinct

Describes goods, services, or attributes that are not clearly separate or distinguishable from each other.

Separately Identifiable

A condition where an asset or component can be distinguished and divided from the whole, based on its unique characteristics and contributions to the operation.

Performance Obligation

A commitment in a contract to transfer a good or service to a customer.

Allocation

The process of assigning a cost or an income to various accounts, departments, or periods as part of accounting efforts.