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KETEI ID [FIE alagram given DEIOW. Price level :31 _ . . ' ' 01 O, 02 Assume that the nominal wages of workers In an economy are Initially set on the basis of the price level P2 and that the economy is initially operating at the full- 998' OUtDUt employment level of output Qf. In the long run, an increase in the price level from P2 to P3 will: 0 decrease the real output from Q2 to Q1. if) shift the aggregate supply curve from A52 to A51. 0 not change the level of real output. 0 increase the real output from Qf to Q2