ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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According to the aggregate demand and aggregate supply model, in the long
run a decrease in the money supply leads to
A) decreases in both the price level and real GDP.
B) an increase in real GDP and an increase in the price level.
C) a decrease in the price level but does not change real GDP.
D) an increase in the price level but does not change real GDP.
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Transcribed Image Text:According to the aggregate demand and aggregate supply model, in the long run a decrease in the money supply leads to A) decreases in both the price level and real GDP. B) an increase in real GDP and an increase in the price level. C) a decrease in the price level but does not change real GDP. D) an increase in the price level but does not change real GDP.
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