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Question 8 2 pts When the price level rises from 105 to 120, the level of real GDP supplied rises from $70 billion to $90
Question 8 2 pts When the price level rises from 105 to 120, the level of real GDP supplied rises from $70 billion to $90 billion. This relationship represents the _ relationship between the quantity of real GDP firms are willing to supply and the price level. O positive; short-run O negative; long-run O positive; long-run O negative; short-run Question 9 2 pts P SRAS, B SRAS2 A Graph with X-axis labeled Y and the Y-axis labeled P. A single line with a positive slope starts near the bottom left corner of the graph and goes straight to the upper right corner at roughly a 45 degree angle. This line is labeled SRAS1. A second line, parallel to the first but shifted to the left, is labeled SRAS2. On the SRAS1 line, there are two points, labeled Point A and Point B. Point A is farther to the right than Point B. Refer to the figure above. Holding all else constant, if the price of oil unexpectedly increases by 15%, we would see a movement from O point B to point A O SRAS1 to SRAS2 O point A to point B O SRAS2 to SRAS1
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