In the Short Run, with Predetermined Prices, When Output Is

question 97

Multiple Choice

In the short run, with predetermined prices, when output is greater than planned aggregate expenditure, firms will:

• A)reduce production.
• B)increase production.
• C)increase planned aggregate expenditure.
• D)decrease planned aggregate expenditure.

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Definitions:

Sandstone

A sedimentary rock formed by the consolidation and compaction of sand and held together by a natural cement, such as silica.

Cement

1. A natural material precipitated in the pore spaces between grains, helping to hold the grains together. 2. A processed, whitish powder, typically derived from calcium carbonate, that sets to a solid mass when mixed with water and usually other materials.

Sedimentary Rocks

Rocks formed by the accumulation and consolidation of sediment, typically layered and including types such as sandstone and shale.

Calcite

A mineral made of calcium carbonate (CaCO3), one of the most common minerals on Earth's surface and a primary component of limestone.