Multiple Choice
If an aggregate demand curve is drawn with real GDP (Y) along the horizontal axis and the price level (P) along the vertical axis, using the quantity theory of money as a theory of aggregate demand, this curve slopes ______ to the right and gets ______ as it moves farther to the right.
A) downward; steeper
B) downward; flatter
C) upward; steeper
D) upward; flatter
Correct Answer:
Verified
Correct Answer:
Verified
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