Refer to the Following Figure to Answer the Next Questions

question 168

Multiple Choice

Refer to the following figure to answer the next questions.

-Based on the figure, if the economy is at point F, then in the long run, we can expect

• A) the price level to increase and output to increase.
• B) the price level to decrease and output to increase.
• C) the long-run aggregate supply curve to shift to the left.
• D) aggregate demand to increase.
• E) aggregate demand to decrease.

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Definitions:

Recording Error

Mistakes made during the accounting process of recording financial transactions.

Journal

The initial record in which the effects of a transaction are recorded.

Company's Records

Official documents and files that include a business's operational, financial, and transactional data.

Canceled Check

A check that has been paid or cleared by the bank it was drawn on and thus is marked as "canceled," making it no longer negotiable.