Author Question: If equilibrium in the economy is merely a function of aggregate demand, the aggregate supply curve ... (Read 66 times)

danielfitts88 · **on:** Jun 30, 2018

If equilibrium in the economy is merely a function of aggregate demand, the aggregate supply curve must be:
a. upward-sloping.
b. downward-sloping.
c. in the Keynesian region.
d. vertical.
e. at the full-capacity level.

Question 2

If consumers are less willing and able to pay for each level of output than they were previously, then apparently:
a. demand has increased.
b. supply has increased.
c. demand has decreased.
d. there has been a movement down along the demand curve.