The Mathematical Equation: Quantity of Output Supplied = Natural Rate

question 59

Multiple Choice

The mathematical equation: quantity of output supplied = natural rate of output + a(actual price level - expected price level) ,expresses

• A)how the long run equilibrium adjusts to changes in money supply.
• B)how output deviates in the short run from its long run natural rate.
• C)how the short run aggregate supply curve shifts.
• D)how adverse shifts in aggregate supply can cause stagflation.

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