When SRAS and AD Intersect at a Real Output Level

question 6

Multiple Choice

When SRAS and AD intersect at a real output level that is less than the natural level of real output,is the economy in equilibrium?

• A)It is in short-run equilibrium, and real output will tend to rise from its current level as it adjusts to long-run equilibrium.
• B)It is in short-run disequilibrium, and real output will tend to fall from its current level as it adjusts to long-run equilibrium.
• C)It is in short-run equilibrium, and real output will tend to fall from its current level as it adjusts to long-run equilibrium.
• D)It is in short-run disequilibrium, and real output will tend to rise from its current level as it adjusts to long-run equilibrium.

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Definitions:

Effective Delegation

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