Business, 19.11.2019 01:31, CoolDudeTrist

If the economy is initially at long-run equilibrium and aggregate demand declines, then in the long run the price level

a. and output are higher than in the original long-run equilibrium.
b. and output are lower than in the original long-run equilibrium.
c. is lower and output is the same as the original long-run equilibrium.
d. is the same and output is lower than in the original long-run equilibrium.

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If the economy is initially at long-run equilibrium and aggregate demand declines, then in the long...