If the Aggregate Demand Curve Shifts to the Left, the Long-Run

question 119

Multiple Choice

If the aggregate demand curve shifts to the left, the long-run equilibrium will occur at a _______ price level and _______ level of output.

• A) higher; the same
• B) higher; lower
• C) lower; the same
• D) lower; lower

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Definitions:

Note's Issue Date

The date on which a promissory note or bond is issued, marking the beginning of the obligation.

Due Date

The due date is a specific date by which an obligation, such as a payment or task, must be completed.

Note Payable

A written promise to pay a specified amount of money, usually with interest, by a certain date.