Exhibit 10-2 -If the Actual Price Level in Exhibit 10-2 Is Lower

question 58

Multiple Choice

Exhibit 10-2
-If the actual price level in Exhibit 10-2 is lower than the expected price level,then

• A)equilibrium output might be Y₂ in the short run
• B)equilibrium output might be Y₁ in the short run
• C)equilibrium output might be Y₃ in the short run
• D)potential output is less than actual output
• E)unemployment is below the natural rate

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Definitions:

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Theoretical Perspectives

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A family unit consisting of two parents and their children, living together as a single household.

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