Suppose that AD and AS intersect at an output level that is higher than the full-employment output

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Suppose that AD and AS intersect at an output level that is higher than the full-employment output level. After the economy adjusts back to equilibrium in the long run, the price level will be _______.

a. higher than it is now

b. lower than it is now

c. the same as it is now

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Macroeconomics

ISBN: 9781264112456

22nd Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Mar 02, 2024 01:00 PM

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Suppose that AD and AS intersect at an output level that is higher than the full-employment output

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c the same as it is now When AD and AS intersect at an output level higher than the ful...View the full answer

Macroeconomics

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