U.S. aggregate demand and long-run aggregate supply decreased during the Great Recession. This caused real gross domestic product (GDP) to and the price level to decrease; decrease increase; increase decrease; remain unchanged decrease; increase remain unchanged; increase
U.S. aggregate demand and long-run aggregate supply decreased during the Great Recession. This caused real gross domestic product (GDP) to and the price level to decrease; decrease increase; increase decrease; remain unchanged decrease; increase remain unchanged; increase
Chapter8: Macroeconomic Equilibrium: Aggregate Demand And Supply
Section: Chapter Questions
Problem 14E
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Question
![- U.S. aggregate demand and long-run aggregate supply decreased during the Great Recession. This
caused real
gross
domestic product (GDP) to
and the price level to
decrease; decrease
increase; increase
decrease; remain unchanged
decrease; increase
remain unchanged; increase](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32d66db7-bfe2-40c8-8781-6e3ea024d9e2%2F570118f7-2b59-42e2-8c8d-9d584a538a0b%2Fc5j7w26_processed.jpeg&w=3840&q=75)
Transcribed Image Text:- U.S. aggregate demand and long-run aggregate supply decreased during the Great Recession. This
caused real
gross
domestic product (GDP) to
and the price level to
decrease; decrease
increase; increase
decrease; remain unchanged
decrease; increase
remain unchanged; increase
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