An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply.
B. increase in aggregate demand.
C. increase in short-run aggregate supply.
D. decrease in aggregate demand.
Answer: D
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From 1993 to 2012, average real income for the bottom quintile of U.S. households
A) decreased by more than 10%. B) remained virtually unchanged. C) increased by about 5%. D) almost doubled.
The mixed economy is the dominant economic system in the world because
a. custom and religion have no influence on economic decisions in these systems b. pure capitalist economies have placed more control in the hands of individuals in recent years c. there is public (i.e., governmental) ownership of resources but regulation of government by individuals reduces some of the flaws of pure capitalism d. there is private ownership of property but government regulation of individuals reduces some of the flaws of pure capitalism e. governments in pure command economies have increased their control over decision-making in recent years
Which of the following is NOT a determinant of demand?
A) consumers' incomes B) prices of other goods C) consumers' tastes D) production technology
When the demand for loanable funds rises, the amount of money borrowed will ___________.
A. rise B. decline C. be unchanged