12. Starting from long-run equilibrium, wage rates and oil prices rise. What is the effect on the price level, Real GDP, and the unemployment rate in the short run? * The price level rises, Real GDP...

12. Starting from long-run equilibrium,<br>wage rates and oil prices rise. What is<br>the effect on the price level, Real GDP,<br>and the unemployment rate in the<br>short run? *<br>The price level rises, Real GDP falls,<br>and the unemployment rate rises.<br>The price level rises, Real GDP falls,<br>and the unemployment rate falls.<br>The price level rises, Real GDP rises,<br>and the unemployment rate falls.<br>The price level rises, Real GDP rises,<br>and the unemployment rate rises.<br>

Extracted text: 12. Starting from long-run equilibrium, wage rates and oil prices rise. What is the effect on the price level, Real GDP, and the unemployment rate in the short run? * The price level rises, Real GDP falls, and the unemployment rate rises. The price level rises, Real GDP falls, and the unemployment rate falls. The price level rises, Real GDP rises, and the unemployment rate falls. The price level rises, Real GDP rises, and the unemployment rate rises.

Jun 08, 2022

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12. Starting from long-run equilibrium, wage rates and oil prices rise. What is the effect on the price level, Real GDP, and the unemployment rate in the short run? * The price level rises, Real GDP...

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