Question

1) During an expansion in the aggregate output market, Business Cycle Expansion in Goods Market: AS AD a. the relative price of goods falls; b. output increases; c. the real wage increases d) all of the above

15 1/w 10 5 ++++++ ++++ 0.14 0.16 0.18 0.20 0.22 0.24 0.26 0.28 0.30 0.32 0 Aggregate Output y

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