NCEA L2 Economics Practice Questions - NCEA Level 2 Economics - New Zealand Exam

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An economy experiences an increase in consumer confidence and business investment, causing Aggregate Demand (AD) to shift to the right. What effect does this have on price level and Real GDP in the short run?

Price level increases and Real GDP increases Price level decreases and Real GDP decreases Price level increases and Real GDP decreases Price level decreases and Real GDP increases

Correct Answer:

Price level increases and Real GDP increases

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