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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Definitions:

Savior Complex

A psychological construct where a person believes they are responsible for saving or rescuing others.

Responsive Interactions

Engagements characterized by sensitivity to each other's needs and signals, facilitating mutual understanding and connection.

Good Ratios

Typically refers to favorable or desirable proportions or relationships between different quantities or elements.

Smaller Groups

Educational or social settings involving a limited number of participants to facilitate more personalized attention and interaction.