Because of the slope of the aggregate demand curve, we can say that
A) a decrease in the price level leads to a lower level of real GDP demanded.
B) an increase in the price level leads to a higher level of real GDP demanded.
C) a decrease in the price level leads to a higher level of real GDP demanded.
D) an increase in the price level leads to no change in the level of real GDP demanded.
C
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The question of "How are goods and services produced?" most closely addresses which of the following issues?
A) Why are Christmas trees popular only in December? B) Should contractors build residential housing or shopping malls? C) Is income distributed fairly in the United States? D) Should Ford build SUVs or luxury cars? E) Should Ford use expensive industrial robots or inexpensive Mexican autoworkers to produce SUVs?
The law of demand asserts that all else equal, if the price of a good ________, the quantity demanded of that good ________
A) stays the same; decreases B) falls; decreases C) rises; stays the same D) falls; increases E) None of the above is correct.