The demand curve slopes
A. upward to the right.
B. upward to the left.
C. downward to the right.
D. downward to the left.
C. downward to the right.
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Suppose total planned expenditures equal $20 trillion when the value of the price level is 100. If the price level drops to 90, total planned real expenditures will equal
A) more than $20 trillion. B) $20 billion. C) less than $20 trillion. D) None of the above: Cannot be determined without additional information.
Explain why wage and salary income differs among individuals
What will be an ideal response?
Refer to Figure 12-14. Consider a typical firm in a perfectly competitive industry which is incurring short-run losses. Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?
A) Panel A B) Panel B C) Panel C D) Panel D
An increase in aggregate demand causes an increase in ________ only in the short run, but causes an increase in ________ in both the short run and the long run
A) real GDP; real GDP B) real GDP; the price level C) the price level; real GDP D) the price level; the price level