Everything Else Held Constant,when Actual Output Exceeds the Natural Rate

question 47

Multiple Choice

Everything else held constant,when actual output exceeds the natural rate of output ________ aggregate supply ________.

• A)short-run;decreases
• B)short-run;increases
• C)long-run;increases
• D)long-run;decreases

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Definitions:

Voting Outcome

The result of a voting process, determining which candidates or measures have been selected or rejected based on majority preference.

Majority Vote

A decision rule in which the option that receives more than half of the votes is chosen.

Economic Efficiency

A state where resources are allocated in the most effective way possible, maximizing output without wasting any inputs, ensuring that goods and services are produced at the lowest possible cost and distributed to those who value them most.

Deregulation

The process of removing or reducing government controls and restrictions in an industry to allow for more competition and efficiency.