When aggregate economic activity is increasing, the economy is said to be in

In principle, we can

a. ignore positive statements when choosing among various public policy alternatives. b. ignore normative statements when choosing among various public policy alternatives. c. confirm or refute positive statements by examining evidence. d. confirm or refute normative statements by examining evidence.

A decrease in the price level results in a(n) ________ in the quantity of real GDP demanded because a lower price level ________ consumption, investment, and net exports

A) decrease; increases B) increase; increases C) decrease; decreases D) increase; decreases