Consider the Basic AD/AS Macro Model, Initially in a Long-

question 35

Multiple Choice

Consider the basic AD/AS macro model, initially in a long- run equilibrium. A positive AS shock will the price level and output in the short run. In the long run, the price level will and output .

• A)increase; increase; return to its initial level; will be restored to potential output
• B)increase; increase; decrease; will be restored to potential output
• C)decrease; increase; decrease further; will be restored to potential output
• D)decrease; decrease; decrease further; will decrease further
• E)decrease; increase; return to its initial level; will be restored to potential output

Explain the legal concept of a corporation as a separate legal entity and its implications.

Comprehend financial instruments used by corporations, including convertible bonds and debt securities.

Understand the roles and responsibilities of corporate promoters, officers, and shareholders.

Grasp the constitutional rights afforded to corporations in the United States.

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Definitions:

Spouse-dominant Decision Making

A decision-making process within families where one spouse predominantly influences the buying decisions over the other.

Purchase Decisions

The process consumers go through when selecting, purchasing, and using products or services.

Husband

A man in a marital relationship, often associated with roles of cohabitation and partnership in family or social structures.

Consumer Socialization

The process by which individuals acquire skills, knowledge, and attitudes relevant to their functioning as consumers in the marketplace.