Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ? | MCQ Hive

Economics Mcqs

Q Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ?

A A. Price fall; output rises
B B. Price fall; output falls
C C. Price rise; output fall
D D. Price rise; output rise

Previous Refer to Exhibit 4. If there is no tax placed on the pr…

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