True or False QuestionTrue or false: If the price level is below macroeconomic equilibrium, there will be a surplus of real GDP.True false question.TrueFalse

True or false: the aggregate demand curve demonstrates an inverse relationship between the price level and real GDP.True false question.TrueFalse

An increase in government spending will result in an increase in the price level and an increase in real GDP in the long run.Question 45Answera.Trueb.False

If the price level increases, but the level of output remains the same from one year to the next,:Multiple choice question.real GDP will increase, but nominal GDP will remain the same.both nominal and real GDP will remain the same.nominal GDP will increase, but real GDP will remain the same.both nominal and real GDP will increase.

A decrease in the price level results in a(n) ________ in the quantity of real GDP demanded because a lower price level ________ consumption, investment, and net exports.Question 9Answera.decrease; decreasesb.decrease; increasesc.increase; increasesd.increase; decreases

If real GDP falls from one period to another, we can conclude thatNone of these necessarily occursnominal GDP fell.prices decreased.inflation occurred.