The ________,the ________ is the quantity of real GDP supplied and the ________ is the quantity of real GDP demanded.
A)lower the price level;greater;smaller
B)higher the price level;greater;smaller
C)greater the demand for labor;smaller;greater
D)lower the supply of labor;greater;smaller
E)lower aggregate demand;greater;smaller

Question

Quizplus · Accepted Answer

According to the basic model of supply and demand, at higher price levels, suppliers are willing to supply greater quantities of a good or service, while consumers are willing to demand smaller quantities of that good or service. Therefore, at higher price levels, the quantity of real GDP supplied would be greater while the quantity of real GDP demanded would be smaller.

The ________,The ________ Is the Quantity of Real GDP Supplied

The ,The Is the Quantity of Real GDP Supplied