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13 Dec 2019
In the aggregate-demand/aggregate-supply model, what market adjustments cause the economy to return to its long-run capacity when output is temporarily greater than the economy's long-run potential output? Question 11 options:
a) Lower wage rates and resource prices reduce short-run aggregate supply
b) Lower interest rates increase aggregate demand and thereby stimulate output
c) Higher wage rates and resource prices reduce short-run aggregate supply
d) A decrease in the price level reduces aggregate demand
In the aggregate-demand/aggregate-supply model, what market adjustments cause the economy to return to its long-run capacity when output is temporarily greater than the economy's long-run potential output? Question 11 options:
a) Lower wage rates and resource prices reduce short-run aggregate supply
b) Lower interest rates increase aggregate demand and thereby stimulate output
c) Higher wage rates and resource prices reduce short-run aggregate supply
d) A decrease in the price level reduces aggregate demand
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