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

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2. 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 _______. LO38.2

a. Higher than it is now.

b. Lower than it is now.

c. The same as it is now.

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Economics

ISBN: 9781259723223

21st Edition

Authors: Campbell McConnell, Stanley Brue, Sean Flynn

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Question Posted: Sep 30, 2024 10:04 AM

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

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Economics

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