If the aggregate supply curve is upward sloping,an increase in aggregate demand will
A) increase real GDP at a constant level of prices.
B) reduce real GDP but increase the price level.
C) increase real GDP but reduce the price level.
D) reduce both real GDP and the price level.
E) increase both real GDP and the price level.
Correct Answer:
Verified
Q36: Increases in aggregate demand
A)lead to increases in
Q37: Classical economics was based upon the belief
Q38: As the maximum output level (real GDP)is
Q39: If the economy is in the vertical
Q40: The classical theory of employment held that
A)total
Q42: According to the classical economists
A)a market economy
Q43: The curve showing the amount of real
Q44: The aggregate supply curve shows
A)how the cost
Q45: If the aggregate supply curve is horizontal,
A)there
Q46: A nearly vertical aggregate supply curve occurs
A)when
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