-In the Above Figure, If Aggregate Demand Does Not Change

question 408

Multiple Choice

-In the above figure, if aggregate demand does not change the short- run equilibrium will

• A) eventually adjust to a long- run equilibrium with a lower price level.
• B) eventually adjust to a long- run equilibrium with a higher price level.
• C) will not adjust on its own.
• D) None of the above answers are correct.

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Definitions:

Credit Policy

The guidelines a company follows to determine how much credit to extend to customers.

Variable Costs

Costs that change when the quantity of output changes.

International Commerce

refers to the trade of goods and services across international boundaries, including the exchange of commodities, capital, and information.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.