A decrease in the price level will
A) shift the aggregate demand curve to the right.
B) move the economy down along a stationary aggregate demand curve.
C) move the economy up along a stationary aggregate demand curve.
D) shift the aggregate demand curve to the left.
B
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When comparing the standard of living in two countries it is important to adjust total output for differences in:
A. population B. geographic area C. political systems D. employment levels
Double counting occurs when:
A) inputs are included in the calculation of the gross domestic product. B) household production is included in the calculation of the gross domestic product. C) depreciation is included in the calculation of the gross domestic product. D) unsold inventories are included in the calculation of the gross domestic product.
Goods produced in the United States and sold in other countries are called
A) imports. B) foreign goods. C) capital goods. D) exports. E) capital account goods.
At all the points below the midpoint on a linear demand curve, the value of price elasticity of demand is:
A) zero. B) greater than one. C) less than one. D) equal to one.