If Profits Are High Because the Price Level Rose

question 30

Multiple Choice

If profits are high because the price level rose,

• A)it is likely the result of an increase in the real wage rate.
• B)new businesses open and the quantity of real GDP supplied increases.
• C)business failures rise and the quantity of real GDP supplied increases.
• D)potential GDP must be decreasing.
• E)the AS curve shifts leftward.

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