After an unexpected ________ in the price of oil, the long-run adjustment decreases the price level and ________ the unemployment rate as they return to their original levels. Select one: a. increase; decreases b. decrease; increases c. increase; increases d. decrease; decreases
After an unexpected ________ in the price of oil, the long-run adjustment decreases the price level and ________ the unemployment rate as they return to their original levels. Select one: a. increase; decreases b. decrease; increases c. increase; increases d. decrease; decreases
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter10: Dynamic Change, Economic Fluctuations, And The Ad-as Model
Section: Chapter Questions
Problem 9CQ
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Question
After an unexpected ________ in the
Select one:
a. increase; decreases
b. decrease; increases
c. increase; increases
d. decrease; decreases
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