Use the Following to Answer Questions

question 113

Multiple Choice

Use the following to answer questions .
Exhibit: Using the Aggregate Demand/Aggregate Supply Model 1
-(Exhibit: Using the Aggregate Demand/Aggregate Supply Model 1) Suppose the economy is initially in short-run equilibrium at B. A shift from AD₁ to AD₂ could have been caused by all of the following except

• A) an increase in consumer optimism.
• B) economic prosperity in foreign economies.
• C) a personal income tax cut.
• D) an increase in the price level from P_a to P_b.

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Definitions:

Signature

Under the Uniform Commercial Code, “any symbol executed or adopted by a party with a present intention to authenticate a writing.”

Time For Payment

The specific period designated for the remittance of funds owed under a contract or agreement.

Presentment

The act of presenting an instrument to the party liable on the instrument to collect payment; the act of presenting an instrument to a drawee for acceptance.

Negotiable

Referring to instruments or documents whose rights or monetary value can be transferred to another individual through endorsement or delivery.