Changes in the Price Level

question 53

Multiple Choice

Changes in the price level

• A)increase the level of aggregate supply in the long run.
• B)decrease the level of aggregate supply in the long run.
• C)do not affect the level of aggregate supply in the long run.
• D)increase the level of aggregate supply in the long run only at very high levels of output.

---

Definitions:

Box Plot

A graphical representation of data that shows the distribution's minimum, maximum, median, and quartiles.

Observations

Data collected through measurement, surveys, or experimentation to represent instances of a variable.

Quartile

A statistical term describing each of four equal groups that a data set can be divided into based on distribution.

Median

The value separating the higher half from the lower half of a data sample or probability distribution.