-In the Above Figure, the Economy Is at Point a When

question 50

Multiple Choice

-In the above figure, the economy is at point A when changes occur. If the new equilibrium has a price level of 120 and real GDP of $12 billion, then it must be the case that

• A)aggregate supply has decreased.
• B)aggregate supply has increased.
• C)aggregate demand has increased.
• D)aggregate demand has decreased.

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Definitions:

Cultural Dimensions

Theoretical frameworks that describe the effects of a society's culture on the values of its members, and how these values relate to behavior.

Authority Distribution

The way power and decision-making responsibilities are allocated within an organization or societal structure.

Practices Versus Values

The comparison between what is actually done (practices) and the underlying reasons or beliefs for these actions (values).

Power Distance

A dimension of organizational culture that reflects the extent to which power is distributed unequally among levels in an organization.