Author Question: A change in the price level in an economy will be depicted by a movement along the AE curve and not ... (Read 70 times)

mpobi80 · **on:** Jun 30, 2018

A change in the price level in an economy will be depicted by a movement along the AE curve and not by a leftward or rightward movement of the curve.
a. True
b. False
Indicate whether the statement is true or false

Question 2

If the price of ice cream increases and the quantity demanded decreases, economists would describe this as:
a. a change in demand.
b. a change in quantity demanded.
c. a change in consumer income.
d. a change in one of the variables that shift demand.