A tariff is the same as a quota.
Indicate whether the statement is true or false
Question 2
When the price level rises from 110 to 115, the aggregate level of GDP supplied rises from 80 billion to 120 billion.
This ________ relationship represents the ________ relationship between the quantity of real GDP firms are willing to supply and the price level.
A) positive; short-run B) negative; short-run
C) positive; long-run D) negative; long-run