Aggregate demand's downward-sloping character reflects three principal influences as shown in which of the following?
a. People's desire to maintain real wealth holdings, the interest rate, and international trade.
b. People's desire to increase the price level, the interest rate, and the economic growth effect.
c. The interest rate, the economic growth effect, and international trade.
d. Cost-pull inflation, demand-pull inflation, and the need to maintain real wealth holdings.
e. Recession phases of the business cycle, upturns, and downturns.
a
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The perfectly competitive firm's short-run supply curve is the same as the
a. supply curve of all other firms in the industry b. upward-sloping portion of its marginal cost curve c. upward-sloping portion of its marginal cost curve at or above minimum average variable cost d. upward-sloping portion of its average variable cost curve e. market demand curve
Government stabilization policy would be unnecessary if the economy automatically gravitated toward
a. full inflation. b. full employment. c. full recession. d. an inflationary gap.
A price ceiling that is set above the equilibrium price:
A. will lead to excess supply in the market. B. will lead to a black market. C. will lead to excess demand in the market. D. will have no effect on the market.
Both tariffs and quotas will restrict supplies coming into the country from abroad.
Answer the following statement true (T) or false (F)