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Suppose that nominal aggregate demand falls by 4 percent, and at the same time every marginal cost also falls by 4 percent. The importance of menu cost theory is that in this situation the price level ________, meaning that a recession ________.
A) must fall by 4 percent as well, does not occur
B) must fall by 4 percent as well, must occur
C) still might not fall, may not occur
D) still might not fall, may occur
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Macroeconomics

Macroeconomics


Edition: 12th
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thecromthecrom
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