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Which of the following would raise the price level in both the short and long run?
Price Elasticity
Measures how the quantity demanded of a good responds to a change in price, indicating the sensitivity of demand to price changes.
Watches
Timekeeping devices worn on the wrist or carried, designed to show the time and often additional information like date or heart rate.
Per Capita Income
Per capita income is a measure of the average income earned per person in a given area or country, calculated by dividing the area's total income by its total population.
Demand Curve
The curve that illustrates the quantity of a product that consumers are willing and able to buy at each possible price level.
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