When the aggregate demand curve shifts to the left against a vertical aggregate supply curve, the price level should __________ unless, as __________ argue, prices may have rigidities

A) fall; Keynesians
B) fall; Monetarists
C) rise; Keynesians
D) rise; Monetarists


A

Economics

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Which statement best describes the effect(s) that occur when a monopoly firm reduces the price of its product?

a. The "price effect" causes total revenue to fall. b. The "output effect" causes total revenue to rise. c. The "revenue effect" causes total revenue to remain constant. d. Both a and b are correct.

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The responsibility of paying for the Social Security benefits for currently retired individuals falls on

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Congress passed the Freedom to Farm Act in 1996. What was the purpose of this act?

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Economics