Let's say that consumer credit balances are low, leaving lots of money to spend --way more than in the past. The result in the long run would be in the price level and in real output. O an increase, an increase O no change, an increase O an increase, a decrease O an increase, no change O None of the listed options is correct.
Let's say that consumer credit balances are low, leaving lots of money to spend --way more than in the past. The result in the long run would be in the price level and in real output. O an increase, an increase O no change, an increase O an increase, a decrease O an increase, no change O None of the listed options is correct.
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter33: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
Problem 4CQQ
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![Let's say that consumer credit balances are low, leaving lots of money to spend--way more than in
the past. The result in the long run would be
in the price level and
in real output.
O an increase, an increase
O no change, an increase
O an increase, a decrease
O an increase, no change
O None of the listed options is correct.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a7c72bb-8430-412c-8547-87bb6620a893%2F78503a1a-d107-41bd-b96b-cbf8645b3481%2F2yfd9la_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Let's say that consumer credit balances are low, leaving lots of money to spend--way more than in
the past. The result in the long run would be
in the price level and
in real output.
O an increase, an increase
O no change, an increase
O an increase, a decrease
O an increase, no change
O None of the listed options is correct.
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