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Author Question: Which of these is a likely impact of a decrease in the price level in an economy on the aggregate ... (Read 33 times)

fbq8i

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  • Posts: 527
on: Jun 30, 2018
Which of these is a likely impact of a decrease in the price level in an economy on the aggregate supply in the economy?
 a. An increase in the quantity of real GDP supplied
 b. A decrease in the quantity of real GDP supplied
 c. A leftward shift of the aggregate supply curve
 d. A rightward shift of the aggregate supply curve
 e. An increase in the slope of the aggregate supply curve

Question 2

If OPEC is an effective cartel,
 a. price changes are dictated by changes in demand.
  b. output changes are dictated by changes in demand.
  c. members agree on output quotas.
  d. all of these.


mbcrismon

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


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