A leftward shift of the demand curve results in:
a. increase in equilibrium price
b. increase in quantity.
c. decrease in both equilibrium price and quantity.
d. decrease in quantity and an indeterminate equilibrium price.
c
Economics
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In the above figure, the economy is at point A when changes occur. If the new equilibrium has a price level of 100 and real GDP of $15.0 trillion, then it must be the case that
A) aggregate demand has increased. B) aggregate demand has decreased. C) aggregate supply has decreased. D) aggregate supply has increased.
Economics
Rivalry among firms would tend to be highest if
a. the industry is growing quickly b. the industry is growing slowly c. the industry is shrinking d. None of the above
Economics