Multiple Choice
Which statement does NOT accurately explain the slope of the aggregate-demand curve?
A) When interest rates fall, Phil decides to buy some new farm equipment.
B) The exchange rate falls, so Americans import more wheat from Canada.
C) Jake feels wealthier because of the price drop, so he decides to buy a new pick-up truck.
D) With prices down and wages fixed by contract, Rocky's gravel pit decides to lay off workers.
Correct Answer:
Verified
Correct Answer:
Verified
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