39) Suppose the economy is in long-run equilibrium. In a short span of time, there is a large emigration of skilled workers, a major depletion of oil fields, and a major new regulation limiting electricity production. In the short run, we would expect the price level and real GDP both to stay the same the price level to fall and real GDP to rise the price level and real GDP both to rise the price level and real GDP to fall
39) Suppose the economy is in long-run equilibrium. In a short span of time, there is a large emigration of skilled workers, a major depletion of oil fields, and a major new regulation limiting electricity production. In the short run, we would expect the price level and real GDP both to stay the same the price level to fall and real GDP to rise the price level and real GDP both to rise the price level and real GDP to fall
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![39) Suppose the economy is in long-run equilibrium. In a short span of time, there is a large
emigration of skilled workers, a major depletion of oil fields, and a major new regulation
limiting electricity production. In the short run, we would expect
the price level and real GDP both to stay the
same
the price level to fall and real GDP to rise
the price level and real GDP both to rise
the price level and real GDP to fall](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa3ea4f5b-8940-4df4-a860-0d95f704a575%2Fc71719d5-9f61-4c85-ac3c-90a6cce17d50%2F241u39.png&w=3840&q=75)
Transcribed Image Text:39) Suppose the economy is in long-run equilibrium. In a short span of time, there is a large
emigration of skilled workers, a major depletion of oil fields, and a major new regulation
limiting electricity production. In the short run, we would expect
the price level and real GDP both to stay the
same
the price level to fall and real GDP to rise
the price level and real GDP both to rise
the price level and real GDP to fall
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