Assume prices and wages are flexible. Ceteris paribus, an increase in the supply of money will cause higher prices and higher output in the long run lower prices and higher output in the long run lower prices and unchanged output in the long run none of the above are true
Assume prices and wages are flexible. Ceteris paribus, an increase in the supply of money will cause higher prices and higher output in the long run lower prices and higher output in the long run lower prices and unchanged output in the long run none of the above are true
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter8: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
Problem 4WNG
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Assume prices and wages are flexible. Ceteris paribus, an increase in the supply of money will cause
higher prices and higher output in the long run
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||
lower prices and higher output in the long run
|
||
lower prices and unchanged output in the long run
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||
none of the above are true |
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