The roots of the European Union are in agreements within the coal and steel industries

A decrease in aggregate demand in the economy will have what effect on macroeconomic equilibrium in the long run?

A) The price level will fall, and the level of GDP will be unaffected. B) The price level will rise, and the level of GDP will be unaffected. C) The price level will rise, and the level of GDP will fall. D) The price level will fall, and the level of GDP will fall.

If a consumer prefers apples to bananas and prefers bananas to citrus fruit, in order to satisfy assumptions about preferences she has to prefer

A) bananas to apples. B) citrus fruit to bananas. C) apples to citrus fruit. D) citrus fruit to apples.