A Common Assumption Among Macroeconomists Is That When Real GDP

question 39

Multiple Choice

A common assumption among macroeconomists is that when real GDP is less than potential output,factor prices adjust and the

• A)AS curve shifts to the left fairly rapidly.
• B)AS curve shifts to the right only very slowly.
• C)AS curve shifts to the right very rapidly.
• D)AD curve shifts to the left rapidly.
• E)None of the above - the AS curve remains unchanged.

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Lower Guinea

A historical term for a coastal area in West Africa, approximately in the region of the modern countries of Ghana, Togo, Benin, and Nigeria.

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A monotheistic Abrahamic religion founded in the 7th century based on the Quran and the teachings of Prophet Muhammad as the last prophet of God.

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Methods and practices used in farming and cultivation to improve crop yield, efficiency, and sustainability.