If the Short-Run Aggregate Supply Curve Is Horizontal and the Long-Run

question 28

Multiple Choice

If the short-run aggregate supply curve is horizontal and the long-run aggregate supply curve is vertical, then a change in the money supply will change ______ in the short run and change ______ in the long run.

• A) only prices; only output
• B) only output; only prices
• C) both prices and output; only prices
• D) both prices and output; both prices and output

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Definitions:

Presidential Primary Campaigns

The initial phase of the presidential electoral process, where candidates from the same party compete to gain delegates for the national party convention.

Contributions

Contributions are voluntary gifts, grants, or donations of money or other resources given to support a cause, organization, or individual.

501(c)(4)

A designation for a type of nonprofit organization in the United States exempt from federal income tax, which promotes social welfare.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.