The aggregate demand curve is downward sloping because as the price level increase the
A) purchasing power of wealth decreases
B) demand for imports decreases
C) demand for interest-sensitive expenditures increases
D) demand for domestically produced substitute goods increases
E) real value of fixed assets increases
Ans: A) purchasing power of wealth decreases
Economics
You might also like to view...
At any given time, which factor of production is NOT fixed?
A) labor B) technology C) entrepreneurship D) land E) money
Economics
Refer to the below table. The resource demand data indicate that the firm is:
A. Buying its resource in an imperfectly competitive market
B. Buying its resource in a perfectly competitive market
C. Selling its product in a perfectly competitive market
D. Selling its product in an imperfectly competitive market
Economics