We Could Explain Continued Increases in Both Output and the Price

question 26

True/False

We could explain continued increases in both output and the price level by supposing that only long-run aggregate supply shifted right over time.

---

Definitions:

Somatic Nervous System

A component of the peripheral nervous system responsible for the voluntary regulation of body movements through skeletal muscles.

Epinephrine

A biochemical substance, also referred to as adrenaline, that functions both as a hormone and a neurotransmitter, playing a pivotal role in initiating the body's fight-or-flight reaction.

Thyroxin

A hormone produced by the thyroid gland that regulates metabolism, energy production, and growth and development.

Melatonin

A substance secreted by the pineal gland that controls the rhythm of sleeping and waking.