Expansionary fiscal policy ________ the price level and _______ equilibrium real GDP. decreases; increases increases; increases increases; decreases decreases; decreases Ceteris paribus, in the long run, a negative supply shock causes the long-run aggregate supply curve to shift to the left. equilibrium real GDP to fall. the price level to rice initially, and then return to its lower level. unemployment to fall below its short-run level. The Federal Open Market Committee consists of five of the Federal Reserve Bent Presidents the seven member Board of Governors of the Federal Reserve. the 12 Federal Reserve Bank Presidents. the Board of Governors plus five of the Federal Reserve Bank Presidents