Changes in the price level
A) increase the level of aggregate supply in the long run.
B) decrease the level of aggregate supply in the long run.
C) do not affect the level of aggregate supply in the long run.
D) increase the level of aggregate supply in the long run only at very high levels of output.
Answer: C
Economics
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The __________ serve to allocate financial resources among households and firms requiring funds.
Fill in the blank(s) with the appropriate word(s).
Economics
A consumer's budget line will shift to the right in a parallel manner if:
a. the price of the good on the X-axis decreases. b. the price of the good on the Y-axis increases. c. the consumer's income increases d. the consumer's income decreases.
Economics