Since the Short-Run Increase in the Aggregate Price Level That

question 90

Multiple Choice

Since the short-run increase in the aggregate price level that follows a monetary expansion is smaller than the ensuing long-run increase, it follows that:

• A)money is neutral in the short run.
• B)in the short run, the interest rate remains constant.
• C)in the long run, the real money supply increases.
• D)in the short run, the real money supply increases.

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Definitions:

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A lab test performed on phlegm (sputum) to identify bacteria or fungi causing respiratory infections or diseases.

Bacillus

A genus of rod-shaped, Gram-positive, spore-forming bacteria found in various environments, some species of which are pathogenic to humans.

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