1. Identify and explain what will happen to the price level and Real GDP (in the short run) as a result of the following SRAS rises AD falls AD falls by less than SRAS falls.
1. Identify and explain what will happen to the price level and Real GDP (in the short run) as a result of the following SRAS rises AD falls AD falls by less than SRAS falls.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Identify and explain what will happen to the price level and Real
- SRAS rises
- AD falls
- AD falls by less than SRAS falls.
- Explain why there is inverse relationship between RGDP and
Unemployment rate, ceteris paribus - Using AD-AS diagram show how the change in productivity in the Ghanaian economy in 2017 affected the Real GDP and prices
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