If Resource Suppliers and Demanders Find Out That Their Price

question 195

Multiple Choice

If resource suppliers and demanders find out that their price expectations were wrong,they will take corrective actions that will

• A)cause the economy to move away from the potential output level
• B)raise the unemployment level above the natural rate of unemployment
• C)shift the aggregate demand curve
• D)shift the short-run aggregate supply curve
• E)raise the actual price level

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Definitions:

American Federation of Labor

A national federation of labor unions in the United States, founded to advocate for improved wages, hours, and working conditions for laborers.

Nineteenth Century

The period from January 1, 1801, to December 31, 1900, characterized by significant industrial, cultural, and political changes worldwide.

Fourteenth Amendment

An amendment to the U.S. Constitution, adopted in 1868, that granted citizenship to all persons born or naturalized in the United States, including former slaves, and provided equal protection under the laws.

Literacy Requirements

Mandates or conditions set by authorities requiring individuals to demonstrate a certain level of reading and writing proficiency, often for voting or employment purposes.