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19-12-2022
Business

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suppose the full employment level of real output (q) for a hypothetical economy is $500, the price level (p) initially is 100, and prices and wages are flexible both upward and downward. refer to the accompanying short-run aggregate supply schedules. if the price level unexpectedly increases from 100 to 125, the level of real output in the short run will multiple choice rise from $500 to $560. fall from $500 to $440. fall from $560 to $500. rise from $440 to $500.

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