Because the price level shares a negative relationship with aggregate expenditures on GDP, the aggregate demand curve is:
A. downward sloping.
B. upward sloping.
C. perfectly elastic.
D. perfectly inelastic.
A. downward sloping.
You might also like to view...
What is the total cost, at the level of production where Pastry Paradise is indifferent between which technology is used?
a. $1750 b. $1000 c. $1500 d. $2000
Average total cost is important to a business because
A. It always declines as more output is produced. B. It tells the firm what the profit per unit produced is. C. It is an indicator of the production function. D. It tells the firm what its fixed costs are.
As a result of the global financial crisis in 2008, _____
a. U.S. interest rates fell and the cost of servicing U.S. debt decreased b. U.S. citizens increased their purchase of foreign securities c. U.S. chronic deficits increased and debt service costs overwhelmed the budget d. debt issued by U.S. government entities was judged to be the safest in the world e. there was downgrading of the nation's credit risk by the chief credit-rating agency in 2011
The vertical intercept of the consumption function that represents the portion of consumption expenditure not associated with a level of disposable income is known as:
a. zero income intercept. b. disposable income intercept. c. autonomous consumption. d. automatic consumption line.