The ________ shows the relationship between the price level and quantity of real GDP demanded
A) consumer price index
B) aggregate expenditure line
C) 45-degree line
D) aggregate demand curve
Answer: D
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Congress's passage of new laws significantly increasing the regulation of business would tend to ________.
A. increase per-unit production costs and shift the aggregate demand curve to the left B. increase per-unit production costs and shift the aggregate supply curve to the right C. increase per-unit production costs and shift the aggregate demand curve to the right D. increase per-unit production costs and shift the aggregate supply curve to the left
Because personal tastes differ, what are substitutes for one person need not be substitutes for another person
a. True b. False Indicate whether the statement is true or false
A rise in price almost always:
a. leads to an increase in the quantity supplied of that good or service. b. leads to a decrease in the quantity supplied of that good or service. c. has no effect on the quantity supplied of that good or service. d. leads to an increase in the quantity demanded of that good or service.
If the price of inputs rises and foreign income rises:
a. Aggregate demand and aggregate supply rise. b. Aggregate demand and aggregate supply fall. c. Neither aggregate demand nor aggregate supply change. d. Aggregate demand rises, and aggregate supply falls. e. None of the above.