What two variables are determined in an aggregate supply-aggregate demand figure? Is the slope of the short-run aggregate supply curve positive or negative? Is the slope of the aggregate demand curve positive or negative?
What will be an ideal response?
The aggregate supply-aggregate demand framework determines the equilibrium price level and equilibrium real GDP. The aggregate supply curve is positively sloped, indicating that an increase in the price level increases the aggregate quantity of goods and services supplied. The aggregate demand curve is negatively sloped, indicating that an increase in the price level decreases the aggregate quantity of goods and services demanded.
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Refer to Scenario 1. What is the coefficient of determination?
A) 1.000 B) 0.000 C) 0.037 D) 0.324
There is general disagreement among economists about the role of advertising, but there is widespread agreement about the role of brand names on market efficiency
a. True b. False Indicate whether the statement is true or false
The measure of the part of disposable income that is not consumed is
A. Savings. B. Depreciation. C. GDP. D. Net investment.
If GDP is less than GNP, we know with certainty that
A) a budget deficit exists. B) a trade surplus exists. C) a trade deficit exists. D) none of the above