the nation of "ranklandia is experiencing a short-run equilibrium where the unemployment rate is higher than the
natural rate of unemployment. In the long run, how will the nation's nominal wages, real output, and price level change?
A. decrease, increase, decrease
B. decrease, decrease, decrease
C. Increase, increase, decrease
D. decrease, decrease, increase
E. increase, decrease, increase
The correct answer is: C. Increase, increase, decrease If the actual rate is higher than the natural rate,... View the full answer