Suppose an economy is in long-run equilibrium when housing prices increase causing household wealth to increase. As a result Multiple Choice aggregate demand will increase and real GDP will decrease in the short run. aggregate supply will increase and real GDP will decrease in the short run. aggregate demand will increase and real GDP will increase in the short run. aggregate supply will decrease and real GDP will decrease in the short run.

Suppose an economy is in long-run equilibrium when housing prices increase causing household wealth to increase. As a result Multiple Choice aggregate demand will increase and real GDP will decrease in the short run. aggregate supply will increase and real GDP will decrease in the short run. aggregate demand will increase and real GDP will increase in the short run. aggregate supply will decrease and real GDP will decrease in the short run.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter14: Aggregate Demand And Supply

Section: Chapter Questions

Problem 9SQP

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