If There Is an Excess Demand Situation in the Economy

question 17

Multiple Choice

If there is an excess demand situation in the economy at the current price level, then the:

• A)price level will remain the same
• B)economy must be operating on the flat section of the AS curve
• C)price level will increase
• D)price level will definitely decrease

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Definitions:

Blindsight

A condition in which a person can respond to visual stimuli without consciously perceiving them, typically due to damage to the primary visual cortex.

Striate Cortex

A region of the cerebral cortex involved in visual processing, characterized by its striped appearance; also known as the primary visual cortex.

Implicit Memory

Implicit memory is a type of long-term memory that enables individuals to perform tasks without conscious awareness of these previous experiences, such as riding a bike or typing on a keyboard.

Neural Correlates

The specific systems within the brain that are associated with specific psychological experiences or functions.