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For a given increase in aggregate demand, the steeper the short-run aggregate supply curve, a. the smaller the increase in real interest rate. b. the larger the increase in investment expenditure. c. the smaller the increase in the price level. d. the smaller th increase in real GDP. e. the larger the increase in real GDP.

For a given increase in aggregate demand, the steeper the short-run aggregate supply curve, a. the smaller the increase in real interest rate. b. the larger the increase in investment expenditure. c. the smaller the increase in the price level. d. the smaller th increase in real GDP. e. the larger the increase in real GDP.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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For a given increase in aggregate demand, the steeper the short-run aggregate supply curve, a. the smaller the increase in real interest rate. b. the larger the increase in investment expenditure. c. the smaller the increase in the price level. d. the smaller th increase in real GDP. e. the larger the increase in real GDP.
Transcribed Image Text:For a given increase in aggregate demand, the steeper the short-run aggregate supply curve, a. the smaller the increase in real interest rate. b. the larger the increase in investment expenditure. c. the smaller the increase in the price level. d. the smaller th increase in real GDP. e. the larger the increase in real GDP.
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