Given an upward-sloping short-run AS curve, expansionary fiscal policy (ceteris paribus) will result in: (1) Higher prices in the short run (ii) Higher output in the short run (iii) Higher prices in the long run (iv) Higher output in the long run O a. Only () and (ii) O b. Only (iii) and (iv) O c. Only (ii) and (iii) Od. Only (i) and (iv)

Given an upward-sloping short-run AS curve, expansionary fiscal policy (ceteris paribus) will result in: (1) Higher prices in the short run (ii) Higher output in the short run (iii) Higher prices in the long run (iv) Higher output in the long run O a. Only () and (ii) O b. Only (iii) and (iv) O c. Only (ii) and (iii) Od. Only (i) and (iv)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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