One possible result of a fall in aggregate demand coupled with a stable short-run aggregate supply is
A. a recession.
B. a rise in the stock market.
C. an increase in employment levels.
D. an economic expansion.
Answer: A
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Which of the following variables do you need to know to calculate marginal cost?
i. change in total cost ii. marginal product of labor iii. change in quantity of labor used iv. change in output A) i and ii B) i and iv C) ii and iv D) i, iii, and iv E) Only ii
What is a minimum wage? What are the effects of a minimum wage set below the equilibrium wage rate?
What will be an ideal response?
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket rises from $20 to $38
A) only three tickets will be sold. B) no one will buy a ticket. C) consumer surplus decreases from $62 to $12. D) consumer surplus increases from $88 to $142.
Demand curves can be affected by the prices of related goods
a. True b. False Indicate whether the statement is true or false