Everything Else Held Constant,if Workers Expect an Increase in the Price

question 48

Multiple Choice

Everything else held constant,if workers expect an increase in the price level,________ aggregate supply ________.

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

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Definitions:

Expanding Notion

Expanding notion means the process of broadening understanding or interpretation of a concept to include more perspectives or aspects than were originally considered.

Legal Definition

A precise, formal description of something that is recognized and enforced by the legal system.

Significant Advantage

A substantial benefit or upper hand that significantly affects outcomes in competitive situations or endeavors.

Illness or Death

Concepts related to the state of being sick and the end of life, respectively.