In the long run, when the economy is at full employment, will a decrease in the quantity of money due to restrictive monetary policy that brings a decrease in aggregate demand likely result in: the price level real GDP()①A. No No ②B. No Yes ③C. Yes No
A. ①
B. ②
C. ③
参考答案:C
解析:
From an initial long-run equilibrium, an increase (decrease) in aggregate demand will increase (decrease) prices and output in the short ran, and the resulting increase(decrease) in money wages will decrease (increase) short-run aggregate supply; resulting in further price increases (decreases) and a return to full-employment long-run equilibrium.