The Quantity of Real GDP Demanded Equals $12

question 17

Multiple Choice

The quantity of real GDP demanded equals $12.2 trillion when the price level is 90.If the price level rises to 95,the quantity of real GDP demanded equals

• A) less than $12.2 trillion.
• B) $12.2 trillion.
• C) more than $12.2 trillion.
• D) more information is needed to determine if the quantity of real GDP demanded increases, decreases, or does not change.

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Definitions:

Depositor

An individual or entity that places money into a bank account, trusting the bank for safekeeping and potentially earning interest.

Teller's Check

A check drawn by a bank on its own funds and signed by a teller, representing a guarantee of payment, often used in transactions requiring secure funds.

Drawer

The party in a transaction who writes a check or draft, instructing the bank to pay a specified amount of money from the drawer's account.

Drawee

A drawee is the party directed by the depositor to pay a certain amount to the person presenting the check or draft.