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Author Question: An increase in the price level is likely to increase the aggregate amount of output supplied in the ... (Read 135 times)

aabwk4

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Question 1

An increase in aggregate demand when the economy is operating at full capacity is likely to result in


◦ an increase in both output and the overall price level.
◦ an increase in output but no increase in the overall price level.
◦ an increase in the overall price level but no increase in output.
◦ no increase in either output or the overall price level.

Question 2

An increase in the price level is likely to increase the aggregate amount of output supplied in the short run because


◦ interest rate is high in the short-run.
◦ wages are sticky in the short-run.
◦ wages change in the short-run.
◦ the aggregate supply curve is vertical in the short-run.


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Marked as best answer by aabwk4 on Apr 19, 2019

aadams68

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