An aggregate demand curve
A. shifts to the right when a non-price level change increases total planned real expenditures.
B. shifts to the right when a non-price level change decreases total planned real expenditures.
C. does not shift to the right or to the left.
D. shifts to the right when the price level falls.
Answer: A
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A) elastic. B) inelastic. C) perfectly inelastic. D) unit elastic.
An increase in a product's price will shift the labor demand curve for workers who produce that product to the left
a. True b. False Indicate whether the statement is true or false
If the economy is in equilibrium with real GDP less than potential GDP, there is ________ gap and a fiscal policy that ________ is appropriate
A) an inflationary; increases aggregate demand B) an inflationary; decreases aggregate demand C) a recessionary; increases aggregate demand D) a recessionary; decreases aggregate demand E) a recessionary; increases potential GDP
Panel data
A) is also called longitudinal data. B) is the same as time series data. C) studies a group of people at a point in time. D) typically uses control and treatment groups.