Multiple Choice
Which of the following is true regarding the aggregate demand curve?
A) It is upward-sloping because production costs rise as real output increases.
B) It is downward-sloping because production costs decline as real output increases.
C) It is upward-sloping because at higher output levels total spending is higher.
D) It is downward-sloping because a lower price means higher real wealth and therefore people will purchase more.
E) It is downward-sloping because at lower prices total incomes are higher.
Correct Answer:
Verified
Correct Answer:
Verified
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