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Use the following to answer questions :
Figure: Monetary Policy and the AD-SRAS Model Use the following to answer questions : Figure: Monetary Policy and the AD-SRAS Model   -(Figure: Monetary Policy and the AD-SRAS Model)  Look at the figure Monetary Policy and the AD-SRAS Model. If the economy is at point f because of an open market sale by the Federal Reserve and no further monetary policy is implemented, in the LONG run nominal wages will _____ and _____ will shift to _____, real GDP will _____, and the price level will _____. A) increase; SRAS; SRAS'; decrease; increase B) increase; SRAS; SRAS'; increase; decrease C) decrease; SRAS'; SRAS; increase; decrease D) decrease; SRAS'; SRAS; decrease; decrease
-(Figure: Monetary Policy and the AD-SRAS Model) Look at the figure Monetary Policy and the AD-SRAS Model. If the economy is at point f because of an open market sale by the Federal Reserve and no further monetary policy is implemented, in the LONG run nominal wages will _____ and _____ will shift to _____, real GDP will _____, and the price level will _____.


Definitions:

Pension Expense

The total cost recognized by an employer for an accounting period regarding the company’s pension plan, comprising service costs, interest costs, plan amendments, and other factors.

Operating Segments

Components of an enterprise that engage in business activities earning revenues and incurring expenses, whose operational results are regularly reviewed by the entity's chief operating decision maker.

External Customers

Individuals or entities that purchase goods or services from a business but are not part of the organization itself.

Revenue Test

A criterion used to determine the recognition of revenue in accounting, which stipulates that revenue can be recognized when it is probable that future economic benefits will flow to the entity and these benefits can be measured reliably.

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