Multiple Choice
Identify the correct statement.
A) Aggregate demand alone determines equilibrium price and output.
B) Aggregate supply alone determines equilibrium price and output.
C) Aggregate demand and aggregate supply determine equilibrium price and output.
D) Aggregate demand shows the positive relationship between price level and real GDP.
E) Aggregate supply shows the negative relationship between price level and real GDP
Correct Answer:
Verified
Correct Answer:
Verified
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