Within the AD/AS model, if consumers and investors become more optimistic about the future direction of the economy,
a. aggregate demand will decrease.
b. aggregate demand will increase.
c. long-run aggregate supply will increase.
d. long-run aggregate supply will decrease.
B
Economics
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The difference between the price the seller receives for a good or service and the minimum price he would be willing to accept for that unit is called: a. the total gains from trading that unit. b. the gain in producer surplus
c. the gain in consumer surplus. d. the total surplus.
Economics
Faster economic growth in the United States may lead to the serious macroeconomic problem of higher
a. levels of unemployment. b. federal budget deficits. c. levels of inflation. d. levels of poverty.
Economics