Question $36(1$ point$)$

$35$

$36$

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If price levels didn't increase as much as the price levels were expected to rise:

$38$

$39$

a$)$ there will be no change in real GDP growth because it is determined by real factors.

$41,42$

b$)$ money growth will cause the short$-$run aggregate supply curve to shift.

$4445$

c$)$ firms' profits will increase.

$4748$

d$)$ firms will reduce their output.