Post a New Question


posted by .

Describe how each of the following will affect the equilibrium price level(P) and real output(Y) in the short run(Assume the economy is initially in the long-run equilibrium.)
(a) A reduction in the real interest rate
(b) A widespread fear of deep recession on the part of consumers
(c) An increase in the average wage rate

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

More Related Questions

Post a New Question