Which of the Following Best Describes the Result of an Increase

question 44

Multiple Choice

Which of the following best describes the result of an increase in the price level in the long run?

• A)Output prices could either rise or fall relative to input prices.
• B)Output prices will rise relative to input prices.
• C)Output prices will fall relative to input prices.
• D)Output prices will not change relative to input prices.

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Definitions:

Powhatan

The leader of the Powhatan Confederacy, a network of tribal nations in what is now Virginia, who played a significant role in the early interactions between Native American peoples and English settlers in the 17th century.

St. Augustine

St. Augustine is a historic city in Florida, known for being the oldest continuously inhabited European-established settlement in the continental United States.

Massachusetts Bay Colony

An early English settlement in North America founded in 1630 by Puritans seeking religious freedom, it played a significant role in the development of New England.

Indentured Servant

A laborer under a contractual system prevalent in colonial America, where service was required for a fixed term in exchange for passage, accommodation, or land.