What three effects can alter the aggregate demand curve?
What will be an ideal response?
wealth effect, interest rate effect, international trade effect
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Economic growth measured in terms of an increase in per capita real GDP is a good measure of _____
a. the average citizen's standard of living in a nation b. the quality of labor in a nation c. the distribution of income in a nation d. the quality of life people experience in a nation e. economic activity in a nation
An increase in aggregate demand when the economy is operating at full capacity is likely to result in
A. an increase in output but no increase in the overall price level. B. an increase in the overall price level but no increase in output. C. an increase in both output and the overall price level. D. no increase in either output or the overall price level.