Suppose That the Economy Is at Long-Run Equilibrium

question 60

Multiple Choice

Suppose that the economy is at long-run equilibrium.If there is a sharp rise in the stock market combined with a significant increase in the minimum wage,then in the short run

• A)real GDP will rise and the price level might rise,fall,or stay the same.
• B)real GDP will fall and the price level might rise,fall,or stay the same.
• C)the price level will rise,and real GDP might rise,fall,or stay the same.
• D)the price level will fall,and real GDP might rise,fall,or stay the same.

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