Which of the following would not be an expected response from a decrease in the price level and so help to explain the slope of the aggregate-demand curve?
a. When interest rates fall, In-and-Out Convenience Stores decides to build some new stores.
b. The exchange rate falls, so French restaurants in Paris buy more Kansas beef.
c. Tyler feels wealthier because of the price-level decrease and so he decides to remodel his kitchen.
d. With prices down and wages fixed by contract, Fargo Concrete Company decides to lay off workers.
d
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According to the Solow model, a benefit of policies to limit population growth might be ________
A) that smaller families are more likely to contribute to technological advances B) that smaller families have better access to birth control methods and devices C) that smaller families might provide each person a larger share of national income D) that smaller families have less need to save, and so enjoy higher consumption
If a person's nominal income increases by 5% while the price level increases by 2%, then that person's real income:
A. Increases by 3% B. Increases by 5% C. Decreases by 7% D. Decreases by 2%