In the Short Run,a Decrease in Wage Rates,ceteris Paribus,shifts the

question 5

Multiple Choice

In the short run,a decrease in wage rates,ceteris paribus,shifts the

• A) AD curve to the right,causing equilibrium price level to rise and equilibrium Real GDP to increase.
• B) AD curve to the left,causing equilibrium price level to fall and equilibrium Real GDP to decrease.
• C) SRAS curve to the right,causing equilibrium price level to fall and equilibrium Real GDP to increase.
• D) SRAS curve to the left,causing equilibrium price level to rise and equilibrium Real GDP to decrease.

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Definitions:

Life Estate

A property interest that lasts for the lifetime of an individual, after which the property passes to another designated party.

Conditional Estate

A property interest that is dependent on the occurrence or non-occurrence of a specified condition.

Easement

A right granted to a party to use the property of another for a specific purpose, like a right-of-way.

Recording

Filing a deed, with any other related documents such as mortgages, with the appropriate county office, thereby giving official notice of the transfer to all interested parties.