A Rightward Shift of Long-Run Aggregate Supply Without Any Change

question 296

Multiple Choice

A rightward shift of long-run aggregate supply without any change in aggregate demand

• A) will leave real GDP unchanged.
• B) results in a lower price level.
• C) increases the price level without any change in real GDP.
• D) increases the price level along with an increase in real GDP.

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Definitions:

Nature

The natural occurrences and features of the earth, encompassing plants, animals, the terrain, and other earth-generated elements, distinct from things made by humans.

Nurture

The care, education, and environmental influences that contribute to an individual's development, often contrasted with genetic factors.

Biology

The investigation into living beings and life itself, focusing on their physical makeup, operational mechanisms, expansion, beginnings, evolutionary changes, and dispersion.

Experience

The knowledge or skill acquired by a person through direct involvement in or exposure to events or activities.