When there is an intersection of an economy's aggregate demand and aggregate supply curves:
A) output may be greater or less then potential output.
B) an equilibrium price level is established in the economy.
C) an equilibrium level of real GDP is established.
D) all of the above are correct.
Correct Answer:
Verified
Q1: When the price level is constant:
A) the
Q2: In the short run with fixed wages
Q4: Which of the following statements is false?
A)
Q5: Which of the following statements is true?
A)
Q6: Autonomous investment and autonomous consumption are:
A) related
Q7: The relationship between household spending and the
Q8: According to the consumption function, as real
Q9: Which one of the following expressions best
Q10: Empirical data show that a strong, positive
Q11: Which of the following statements about the
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