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QUESTION
If the economy is above long-run equilibrium output, what will happen in the long run if SRAS adjusts? a) Prices rise and output increases. b) Prices rise and output decreases. c) Prices fall and outp
If the economy is above long-run equilibrium output, what will happen in the long run if SRAS adjusts?
a) Prices rise and output increases.
b) Prices rise and output decreases.
c) Prices fall and output decreases.
d) Prices fall and output increases.
