An increase in the price level in an economy will _____
a. shift the aggregate demand curve to the right
b. shift the aggregate demand curve to the left
c. increase the quantity of real gross domestic product (GDP) demanded
d. decrease the quantity of real gross domestic product (GDP) demanded
e. increase the aggregate expenditure
d
Economics
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Economic theory predicts that people make choices in a manner that
A) makes them well liked by others. B) makes them better off. C) reflects the fact that resources are unlimited. D) shows that they do not respond to monetary incentives.
Economics
Which of the following is not necessarily a characteristic of perfect competition?
a. low prices b. a large number of buyers and sellers c. a homogeneous product d. perfect information e. easy entry and exit in the long run
Economics