For Each Outcome Below,tell What Type of Shift Must Have

question 38

Essay

For each outcome below,tell what type of shift must have taken place in either the aggregate demand curve or the long-run aggregate supply curve.
(a)In the short run,the price level is unchanged and output rises.
(b)In the long run,the price level declines and output is unchanged.
(c)In the long run,the price level rises and output declines.

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Definitions:

Collar

A part of a garment that encircles the neck, typically varying in style and width.

Stockholders

refers to individuals or entities that own shares in a corporation, giving them partial ownership of the company and rights to dividends and a say in corporate governance.

Suppliers

Organizations or individuals that provide goods or services to another company, often part of a supply chain or production process.

Customers

Individuals or organizations that purchase goods or services from a business.