An economy is at a full-employment equilibrium, and then the aggregate demand curve shifts leftward. As a result, the price level ________ and real GDP ________
A) rises; increases
B) rises; decreases
C) falls; increases
D) falls; decreases
E) falls; does not change
D
Economics
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In the above figure, over the price range P5P6, demand is
A) unit elastic. B) elastic. C) perfectly inelastic. D) inelastic.
Economics
Human capital is
a. a stock of equipment and structures. b. the result of investments workers make in themselves such as on-the-job training. c. a difference in wages that arises to offset the nonmonetary characteristics of different jobs. d. inversely related to the supply of workers.
Economics