If the Actual Price Level Is Less Than the Expected

question 118

Multiple Choice

If the actual price level is less than the expected price level reflected in long-term contracts,

• A)firms will find production more profitable than they had expected and will increase the quantity of output supplied
• B)firms will find production less profitable than they had expected and will decrease the quantity of output supplied
• C)firms,because they are making less profit than they had expected,will increase the quantity of output supplied
• D)resource owners,because they are making a lower profit than they had expected,will decrease the quantity of output supplied
• E)unemployment will increase

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Definitions:

Respiratory Membrane

The thin barrier through which gas exchange occurs between the air in the lungs and the blood in capillaries.

Gas Exchange

The process by which oxygen is taken in and carbon dioxide is expelled, primarily occurring in the lungs between air in the alveoli and blood in the capillaries.

Surface Area

The total area of the outer surface of an object or the boundary covering of a three-dimensional figure.

Respiratory Membrane

A thin barrier in the lungs through which gas exchange occurs between the air in the alveoli and the blood in the capillaries.