Other Things the Same,an Increase in the Expected Price Level

question 69

Multiple Choice

Other things the same,an increase in the expected price level shifts

• A)short-run aggregate supply right.
• B)short-run aggregate supply left.
• C)aggregate-demand right.
• D)aggregated-demand left.

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Definitions:

Economists

Experts or professionals who study, develop, and apply theories and concepts in economics to analyze how societies utilize scarce resources.

Monopoly

A market condition where a single firm has exclusive control over a product or service, eliminating competition.

Negative Externalities

Adverse effects suffered by a third party or the public as a result of an economic transaction or activity.

Principal-Agent Problem

At a firm, a conflict of interest that occurs when agents (workers or managers) pursue their own objectives to the detriment of the principals’ (stockholders’) goals. In public choice theory, a conflict of interest that arises when elected officials (who are the agents of the people) pursue policies that are in their own interests rather than policies that would be in the better interests of the public (the principals).