A change in the expected price level shifts a. the aggregate demand curve. b. the short-run aggregate supply curve, but not the long-run aggregate supply curve. c. the long-run aggregate supply curve, but not the short-run aggregate supply curve. d. both the short-run and the long-run aggregate supply curves.

A change in the expected price level shifts a. the aggregate demand curve. b. the short-run aggregate supply curve, but not the long-run aggregate supply curve. c. the long-run aggregate supply curve, but not the short-run aggregate supply curve. d. both the short-run and the long-run aggregate supply curves.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 3CQQ

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Question

A change in the expected price level shifts

a. the aggregate demand curve.

b. the short-run aggregate supply curve, but not the long-run aggregate supply curve.

c. the long-run aggregate supply curve, but not the short-run aggregate supply curve.

d. both the short-run and the long-run aggregate supply curves.

Definition Definition Total supply of goods and services in an economy at a certain price level in a specific time period.

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