-Refer to Figure 11-7

question 32

Multiple Choice

-Refer to Figure 11-7.If the economy is currently producing at point X,what does the short-run macro model predict will happen?

• A) Nothing will happen;the economy is in equilibrium.
• B) Prices will rise and firms will increase production.
• C) Prices will fall and firms will increase production.
• D) Inventories will shrink and firms will increase production.
• E) Inventories will accumulate and firms will cut production.

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Definitions:

Accountability

The responsibility to report, explain, and be answerable for resulting consequences of one's actions.

Task Activities

Actions or steps taken by individuals or groups to accomplish a specific task or assignment.

Work Pattern

The regular manner in which work is organized, scheduled, and performed within an organization or job.

Job

A regular activity performed in exchange for payment, typically as part of one's occupation or profession.