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In the short run, an increase in real GDP will Select one: a. have no effect on unit costs or the price level b. decrease unit costs and increase the price level c. decrease unit costs and decrease the price level d. increase unit costs and decrease the price level e. increase unit costs and increase the price level

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In the short run, an increase in real GDP will
Select one:
a. have no effect on unit costs or the price level
b. decrease unit costs and increase the price level
c. decrease unit costs and decrease the price level
d. increase unit costs and decrease the price level
e. increase unit costs and increase the price level

✅ Answers (1)

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  • In the short run, an increase in real GDP will
    e. increase unit costs and increase the price level
  • An increase in real GDP causes a rise in price level in the short run. This is characterized by high level of production. As the economy approaches potential output, the price will increase more than the increase in aggregate demand
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Answered on June 24, 2020 3:07 pm
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