-Refer to Figure 15-6

question 37

Multiple Choice

-Refer to Figure 15-6.If the price level is currently at 140,what would we expect to occur in the short run?

• A) The price level will remain at 140 and businesses will cut production to $5.5 trillion.
• B) The price level will remain at 140 and the extra $2 trillion in real GDP will be saved for future use.
• C) The aggregate supply curve will shift upward until it intersects the aggregate demand curve at a price level of 140 and real GDP of $5.5 trillion.
• D) The aggregate demand curve will shift right until it intersects the aggregate supply curve at a price level of 140 and real GDP of $7.5 trillion.
• E) Inventories will accumulate and businesses will cut production until equilibrium is reached at a price level of 120 and real GDP of $6.5 trillion.

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Definitions:

Judgement Creditor

An individual or entity that has won a monetary judgement against a debtor in court, granting them the right to collect the judgment amount from the debtor.

RUPA

The Revised Uniform Partnership Act, which is a legal guideline for the formation and conduct of partnerships in the United States.

Partnership Assets

Assets owned jointly by partners within a partnership, used for the business’s operations and subject to partnership agreements.

Dissolution

The process of formally ending or dissolving an organization, marriage, or legal body.