In Japan in 2000 the Price Level Fell by 5

question 214

Multiple Choice

In Japan in 2000 the price level fell by 5 percent and the money wage rate did not change. As a result, there was a

• A) movement down along Japan's short-run aggregate demand curve.
• B) movement down along Japan's short-run aggregate supply curve.
• C) rightward shift in Japan's short-run aggregate supply curve.
• D) movement down along Japan's long-run aggregate supply curve.

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Definitions:

Tint

A slight or faint shade of color or a small amount of a particular color added to something.

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A measure of mass in the avoirdupois system, equivalent to 1/16th of a pound or about 28.35 grams.

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A unit of area measurement equal to a square measuring one foot on each side.

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A technique of painting with pigments that are bound with a medium of drying oil, often linseed oil, which creates a lustrous texture and depth of color.