In the basic aggregate demand - aggregate supply model, a decrease in aggregate demand will in the long run lead to ______ in real GDP and ____ in the price level.

Which of the following statements is NOT true about economic growth?

A) Growth is measured as the overall level of real GDP. B) Growth generally means that overall the members of the nation are better off materially. C) When growth occurs the production possibilities curve shifts outward. D) Growth represents an increase in a nation's productive capacity.

Macroeconomics

A) studies the behavior of the economy as a whole. B) involves the interaction between different countries in specific markets. C) studies the behavior of individual consumers, firms and markets. D) studies how computer automation has changed economics.