The real balances effect is the impact on real GDP caused by the ____ relationship between the price level and the real value of financial assets

Which of the following is a factor that determines the shape of the aggregate demand curve?

A) the real-balance effect B) the wage effect C) the nominal-balance effect D) the price level effect

The regular pattern of income variation over a person's life is called the

a. earned income cycle. b. substitution effect. c. life cycle. d. pattern of change.