A decline in the quantity of real output demanded along the aggregate demand curve is a result of a(n):

a. Decrease in the price level
b. Decrease in the level of income
c. Increase in the level of income
d. Increase in the price level

d. Increase in the price level

Economics

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In a labor market dominated by a union, the supply of labor to a firm is depicted as a horizontal line

a. True b. False

Economics

Explain the three reasons given for the downward slope of the aggregate demand curve.

What will be an ideal response?

Economics