The intermediate zone in the middle of the short-run aggregate supply curve is upward sloping, so a rise in aggregate demand will cause higher output and price level, while a fall in aggregate demand will lead to ______ output and price level.
a. higher
b. lower
c. no change in
d. surpluses in
b. lower
Economics
You might also like to view...
Explain how changes in the stock of capital affect aggregate supply
Economics
Which of the following is a flow variable?
a. the number of cars registered in the U.S. b. the number of unemployed workers this week c. your total net worth yesterday d. the government debt this year e. a salary of $4,000 per month
Economics