Market will transition to long run equilibrium by

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Reference no: EM131380623

1-If there is an inflationary? gap, the market will transition to long run equilibrium by

A. an increase in SRAS caused by a decrease in the wage rate.

B. a decrease in SRAS caused by an increase in the wage rate.

C. a decrease in SRAS caused by a decrease in the wage rate.

D. an increase in SRAS caused by an inecrease in the wage rate.

2-If the price level rises and the money wage rate remains? constant, the quantity of real GDP supplied? ______ and there is a movement up along the? ______ aggregate supply curve.

A.? increases; short-run

B. does not? change; long-run

C. does not? change; short-run

D. decreases; long-run

Reference no: EM131380623

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