If Aggregate Demand Shifts Inward Over a Long Period of Time

question 73

Multiple Choice

If aggregate demand shifts inward over a long period of time, with aggregate supply held constant, the economy should experience

• A)unemployment.
• B)recession.
• C)stagflation.
• D)inflation.
• E)budget surpluses.

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Definitions:

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a set of rules governing the sale of goods between businesses located in different countries.

Damages

Compensation sought or awarded in a lawsuit for harm or injury caused by the wrongdoings of another party.

Breach of Contract

The violation of any agreed-upon terms or conditions in a contract, which may result in legal consequences for the offending party.

Cover

A remedy in sales law allowing a buyer to purchase replacement goods if the seller fails to make delivery.