Suppose the economy is initially is long run equilibrium Then suppose there is a drought that destroys much of the wheat crop According to the model of aggregate demand and aggregate supply, what happens of prices and output in the short run ? | MCQ Hive

Economics Mcqs

Q Suppose the economy is initially is long run equilibrium Then suppose there is a drought that destroys much of the wheat crop According to the model of aggregate demand and aggregate supply, what happens of prices and output in the short run ?

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

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