Figure 15-3 -Figure 15-3 Indicates That,in the Short Run,an Unexpected Increase in Unexpected

question 62

Multiple Choice

Figure 15-3
-Figure 15-3 indicates that,in the short run,an unexpected increase in aggregate demand would cause

• A)the price level to fall.
• B)the price level to rise.
• C)the unemployment rate to rise.
• D)real GDP to decrease.

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Definitions:

Zero-based Budgeting

A budgeting approach where all expenses must be justified for each new period, starting from a "zero base," without reference to previous budgets.

Budget Cycle

The budget cycle describes the periodic process of planning, preparation, approval, and review of a budget, encompassing stages from proposal to implementation and subsequent analysis.

Flexible

The quality of being able to adapt to changes or new circumstances easily without significant disruption.

Strategic Plans

Long-term, overarching plans designed to achieve essential goals within an organization, guiding its direction, and decisions.