Which of the following statements accurately describes what would happen as a result of this news? Check all that apply. People would expect the price level to rise. The nominal wage that workers and firms agree to in their new labor contracts would be lower than it would be otherwise. The profitability of producing goods and services at any given price level would increase. The short-run aggregate-supply curve would shift to the left. If aggregate demand is held constant, the shift in the aggregate-supply curve will cause the price level to and the quantity of output produced to . Continue without saving