If Aggregate Demand Shifts Outward Over a Long Period of Time

question 211

Multiple Choice

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

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

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Definitions:

Problem Recognition

The initial step in the purchase decision process, where the consumer recognizes a need or problem that requires resolution.

Alternative Evaluation

The stage in the consumer decision-making process where potential products or services are assessed and compared against each other based on criteria such as features, price, and quality.

Prepurchase Cognition

The thought processes and considerations consumers engage in before making a buying decision, including evaluation of alternatives and product information.

Problem Recognition

The initial step in the consumer decision-making process where the consumer identifies a need or problem requiring a solution.