All resources are assumed to be of equal quality when we draw a production possibilities curve that is bowed out

The value of total output and total income in the simple circular flow model

A) include only intermediate goods. B) are equal to each other. C) are measures of the economy's level of savings. D) are related in the sense that national income is less than national product.

Which of the following is not true about a change in the price level? a. It will shift the aggregate demand curve

b. It will shift the aggregate expenditure curve. c. It will result in a new value of equilibrium real GDP demanded. d. It will change the real value of dollar-denominated assets. e. It will shift the consumption function.