In the Keynesian Model in the Long Run,an Increase in the Money

question 58

Multiple Choice

In the Keynesian model in the long run,an increase in the money supply will raise

• A)the price level but not the level of output.
• B)the level of output but not the price level.
• C)both the level of output and the price level.
• D)neither the level of output nor the price level.

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Definitions:

Yellow Bile

One of the four humors in ancient Greek medicine, believed to be associated with the liver and to cause irritability and anger when in excess.

Black Bile

In ancient and medieval medicine, one of the four bodily humors, believed to be associated with melancholy.

Excess Phlegm

A condition characterized by the overproduction of mucus by the respiratory tract, often associated with colds, allergies, or infections.

Psychological Abnormality

Behaviors, thoughts, or emotions significantly deviating from the normative or cultural expectations, sometimes causing distress or functional impairment.