Exhibit 9-4 -Refer to Exhibit 9-4.Assume the Economy Is Currently in Long-Run

question 16

Multiple Choice

Exhibit 9-4
-Refer to Exhibit 9-4.Assume the economy is currently in long-run equilibrium with the price level equal to P₃.If foreigners begin to buy more U.S.goods,the economy will,in the short run,move to which of the following equilibrium combinations of price level and Real GDP?

• A)P₂,Q₄.
• B)P₃,Q₃.
• C)P₄,Q₂.
• D)P₄,Q₄.
• E)P₅,Q₃.

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Definitions:

Linnaeus

Carl Linnaeus, an 18th-century Swedish botanist, physician, and zoologist who developed a system for naming, ranking, and classifying organisms.

Primates

Primates are an order of mammals that includes humans, apes, monkeys, and prosimians, characterized by complex behaviors, varied forms of locomotion, and a large brain relative to body size.

Hominids

Primates characterized by bipedalism and large brains, including the human lineage and all our immediate ancestors.

Genus

A rank in the biological classification system (taxonomy) that is used to group species sharing common characteristics, directly above species and below family.