Multiple Choice
According to the classical theory, an inward shift in aggregate demand would reduce
A) real Gross Domestic Product (GDP) and the price level.
B) the price level but have no effect on real Gross Domestic Product (GDP) .
C) real income but have no impact on the price Gross Domestic Product (GDP) .
D) the price level but increase real Gross Domestic Product (GDP) .
Correct Answer:
Verified
Correct Answer:
Verified
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