akicomv804 akicomv804

31-05-2024
Business

Answered

Prior to COVID-19 (2017-2019) and following the peak of COVID-19 (2021-2022) both the price level and real GDP were steadily rising. This implies that, during these periods,
a) aggregate supply was increasing faster than aggregate demand
b) aggregate demand was increasing faster than aggregate supply
c) aggregate demand and aggregate supply were increasing at roughly the same rate
d) aggregate supply was decreasing and aggregate demand was increasing

Answer :

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