Aggregate Supply Shocks Cause the Price Level and Real GDP

question 94

Multiple Choice

Aggregate supply shocks cause the price level and real GDP to change in

• A)the same direction with price changing by more than output.
• B)the same direction and by the same amount.
• C)opposite directions with price changing by less than output.
• D)opposite directions but not necessarily by the same amount.
• E)opposite directions but by the same amount.

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Definitions:

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Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity, developed by Frederick W. Taylor.

Dehumanized

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