Other things being equal, the lower planned real expenditures along an aggregate demand curve are, the
A. more the production possibilities cure shifts to the left.
B. lower the price level.
C. lower the level of endowments.
D. higher the price level.
Answer: D
You might also like to view...
If the demand curve for a product is horizontal, then the elasticity of demand is: a. equal to zero
b. equal to one. c. greater than one, but less than infinity. d. equal to infinity.
Which of the following statements suggests that a rise in GDP actually understates the rise in the standard of living? a. A much wider variety of basic products, such as food and clothing, is available today than several decades ago. b. Crime rates may rise as the GDP of a society increases
c. Crime rates may rise as the GDP of a society increases. d. Income inequality may increase with increasing GDP.
Which of the following members of the European Union has NOT adopted the euro?
A) Denmark B) Estonia C) Germany D) Greece
All of the following are noncontrollable government expenditures EXCEPT
A. unemployment benefits. B. Medicare. C. Social Security. D. national defense spending.