Multiple Choice
If an automobile maker producing a certain kind of car suddenly experiences a decrease in the demand for the car. In the short run,
A) the demand for steel goes down but the price of steel stays the same.
B) the demand for steel goes up and the price of steel goes up by a lot.
C) the demand for steel goes down and the price of steel goes down by a lot.
D) the demand for steel goes up but the steel prices remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: If the marginal propensity to consume is
Q10: Compared to the long run aggregate supply
Q11: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5231/.jpg" alt=" Figure 9.4 -Refer
Q12: List three things that could shift the
Q13: Using the AS- AD diagram, show the
Q15: Production inputs such as steel rods have
Q16: A leftward shift in the aggregate demand
Q17: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5231/.jpg" alt=" Figure 9.1 -Refer
Q18: Indicate the effect of an unfavorable aggregate
Q19: If the economy is in long- run