Beginning from a Position of Long-Run Equilibrium, Suppose There Is

question 17

Multiple Choice

Beginning from a position of long-run equilibrium, suppose there is an increase in the aggregate demand curve. After adjustment and comparing the economy's new long-run equilibrium with its original long-run position, the result would be an increase in:

• A) real GDP.
• B) the price level (CPI).
• C) the unemployment rate.
• D) a and b, but not c.

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Definitions:

Low-Input Agriculture

Farming practices that require minimal use of inputs such as fertilizers, pesticides, and water, often aiming for sustainability.

Method

A systematic way of doing something, especially one that is repeatable and can be written down as a set of procedures or steps.

Dangerous

Having the potential to cause harm, injury, or damage to organisms, property, or the environment.

Sea Turtles

Marine reptiles known for their long lives, migration across oceans, and endangered status due to human activities.