Aggregate demand shifts left if
a. government purchases increase and shifts left if stock prices rise.
b. government purchases increase and shifts left if stock prices fall.
c. government purchases decrease and shifts left if stock prices rise.
d. government purchases decrease and shifts left is stock prices fall.
d
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Refer to the total revenue graph below. An increase in the quantity of product X demanded from 14,000 to 16,000 units implies that the price of product X was:
A. Reduced and the demand is elastic
B. Increased and the demand is elastic
C. Reduced and the demand is inelastic
D. Increased and the demand is inelastic
Refer to the above graph. At price level P2:
A. the quantity of output supplied is constant. B. the quantity of output supplied is less than the quantity of output demanded. C. the quantity of output supplied is greater than the quantity of output demanded. D. the quantity of output supplied is equal to the quantity of output demanded.