Wheat Fish Melons Year Price Quantity Price Quantity Price Quantity 2012 $20 100 $3 200 $2 400 $22 $4 ES 2013 120 225 415 2014 $25 125 $5 210 $4 375
September 3, 2020
“Globalization in Your Life”Tariffs on steel and aluminum are proposed to be set at 25% for steel and 10% for aluminum.Watch the video Tariffs and Protectionism ( https://www.youtube.com/watch?v=Gr-Ld
September 3, 2020

Starting from long run equilibrium, in response to a decrease in AD:

a.​ The price level will increase more in the long run than in the short run.

b.​ The short run equilibrium level of real output will be greater in the long run than in the short run.

c.​ Neither the price level nor real output will change in the long run.

d.​ Both a. and b. are correct

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